Forex Newsletter: Optimistic Start with Scandinavian Currencies Gaining

London: 19 December 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets indicated a positive start this morning, with Scandinavian currencies (Norwegian Krone & Swedish Krona) leading the pack in Forex. Asian & US indices soared, yet the European markets dropped. There are optimistic signals from the energy & metals markets.

Let’s go through the sector-wise updates for more details:

Key Takeaways

• Forex: NOK (Up 0.47%) & SEK (Up 0.35%) soared while USD & JPY dropped.
• Asia-Pacific Soared: Nikkei (JPN225) surged 2.01%, & Hang Seng (HKG33) soared 1.25%.
• European Indices Dipped: FTSE (UK100) slipped 0.17%, CAC (FRA40) slightly dipped 0.01%, & DAX (GER30) dropped 0.14%.
• US Markets Optimistic: S&P 500 (SPX500) soared 0.4%, Nasdaq (NAS100) surged 0.6%, & Dow Jones (USA30) rose 0.32%.
• Energy Markets Gained: Brent Crude (UKOIL) edged 0.11%, WTI Crude (OIL) soared 0.2%, & Natural Gas (NATGAS) surged 0.4%.
• Precious Metals Rose: Gold (XAUUSD) gained 1.29%, & Silver (XAGUSD) soared 0.78%.

G10 Forex

NOK & SEK are Top Gainers

In the G10 FX Market, the Norwegian Krone (NOK: Surged 0.47%) and Swedish Krona (SEK: Soared 0.35%) are the top gainers today versus the US Dollar (USD).

USD & JPY are Top Laggers

On the other hand, the US Dollar (USD) and Japanese Yen (JPY) are the top losers, as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices

Asian Markets Up

In Asian equities, markets were trading stronger today.

• The Nikkei (JPN225) was trading at 39084.0, up 2.01%.
• The Hang Seng (HKG33) traded at 19754.8008, up 1.25%.

European Indices Dipped

In the European equities, indices were trading weaker today.

• The UK’s FTSE 100 (UK100) traded at 8118.8901, down 0.17%.
• France’s CAC 40 (FRA40) traded at 7294.1001, down 0.01%.
• Germany’s DAX 30 (GER30) traded at 20025.0996, down 0.14%.

US Equities Futures Slightly Edged

Looking at Equity Futures so far, the SP500 Futures traded at 5895.75, up 0.1%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) surged 0.4% to 5911.97.
• Nasdaq (NAS100) soared 0.6% to 21371.3.
• Dow Jones Industrial Average (USA30) edged 0.32% to 42625.1.

Energy Markets

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading firm today. The WTI Crude Futures was trading at 69.68, up 0.45%. The Brent Crude Futures was trading at 72.8855, up 0.38%.

Spot Prices Heated Up

• Brent Crude (UKOIL) gained 0.11% to $72.686 a barrel.
• WTI Crude (OIL) soared 0.2% to $69.57 a barrel.
• Natural Gas (NATGAS) surged 0.4% to $3.1625/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) gained 1.29% to 2618.38.
• Silver (XAGUSD) increased 0.78% to 29.5855.

To Summarize

Today’s Forex trading newsletter covers the status of various financial instruments across Forex, stock indices, and commodities at the morning bell. Stay tuned for the latest updates as the interest rate decisions of significant central banks scheduled for today may influence the market dynamics.

_{We compared the Live Rates at about 08:54 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Visual Karsa on Unsplash}