Forex Newsletter: Optimistic Start with Yen & Kiwi Gaining

London: 24 October 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets indicate an upbeat start, with the Yen & Kiwi emerging as the top gainers while the Swedish Krona & US Dollar declined. Global indices were mixed, yet modest gains were recorded across the commodity markets.

Let’s deep-dive into the sector-wise details:

Key Takeaways

• Forex: JPY (Surged 0.32%) & NZD (Soared 0.16%) soared while SEK & USD declined.
• Asia-Pacific Mixed: Nikkei (JPN225) surged 0.88%, while Hang Seng (HKG33) dropped 0.4%.
• European Indices Mixed: FTSE (UK100) slightly edged by 0.02%, CAC (FRA40) was almost unchanged, & DAX (GER30) slipped 0.05%.
• US Markets Mixed: S&P 500 (SPX500) edged 0.13%, Nasdaq (NAS100) soared 0.25%, yet Dow Jones (USA30) traded flat.
• Energy Markets Gained: Brent Crude (UKOIL) soared 0.61%, WTI Crude (OIL) surged 0.78%, & Natural Gas (NATGAS) edged 0.52%.
• Precious Metals Soared: Gold (XAUUSD) gained 0.44%, & Silver (XAGUSD) surged 0.68%.

G10 Forex

JPY & NZD are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Surged 0.32%) and New Zealand Dollar (NZD: Edged 0.16%) are the top gainers today versus the US Dollar (USD).

SEK & USD are Top Laggers

On the other hand, Swedish Krona (SEK) and US Dollar (USD) are the top losers as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

In Asian equities, markets were trading mixed today.

• The Nikkei (JPN225) was trading at 38149.5, up 0.88%.
• The Hang Seng (HKG33) was trading at 20469.0, down 0.4%.

European Indices Mixed

In European equities, indices were trading mixed today.

• The FTSE (UK100) was trading at 8275.5996, up 0.02%.
• The CAC (FRA40) was trading flat at 7490.5.
• The DAX (GEr30) was trading at 19354.5, down 0.05%.

US Equities Futures Edged

Looking at Equity Futures so far, the SP500 Futures was trading at 5815.4502, up 0.08%.

Popular US Indices Mixed

• Standard & Poor’s 500 (SPX500) soared 0.13% to 5816.55.
• Nasdaq (NAS100) surged 0.25% to 20195.5.
• Dow Jones Industrial Average (USA30) traded flat at 42487.

Energy Markets

Crude Oil Futures Strengthened

In the energy space, the oil futures trade is stronger today. The Brent Crude Futures was trading at 75.385, up 0.61%. The WTI Crude Futures was trading at 71.53, up 0.6%.

Spot Prices Heated Up

• Brent Crude (UKOIL) surged 0.61% to $75.385 a barrel.
• WTI Crude (OIL) soared 0.78% to $71.52 a barrel.
• Natural Gas (NATGAS) gained 0.52% to $2.9855/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) soared 0.44% to 2727.46.
• Silver (XAGUSD) surged 0.68% to 33.928.

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 as the US initial jobless claims and the UK consumer confidence releases may influence the market dynamics later today.

_{We compared the Live Rates at about 05:46 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Jakub Żerdzicki on Unsplash}