Forex Newsletter: Pessimistic Start with Aussie & Yen Soaring

London: 7 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a downbeat start today. Aussie & Yen emerged as the top gainers in Forex. Yet, there are downward trends seen across global stocks and commodities markets. Let’s go through the sector-wise updates:

Key Takeaways

• Forex: AUD (Up 0.07%) & JPY (Up 0.03%) soared while EUR (Down 0.1%) & SEK (Down 0.1%) dipped vs USD.
• Asia-Pacific Mixed: Nikkei (JPN225) dropped 0.11%, and Hang Seng (HKG33) surged 1.53%.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Narrowly Dipped: S&P 500 (SPX500), Nasdaq (NAS100), and the Dow Jones (USA30) slightly dipped, yet almost flat.
• Energy Markets Slipped: Brent Crude (UKOIL) & WTI Crude (OIL) dropped about 0.5%, and Natural Gas (NATGAS) followed suit to dip 0.38%.
• Precious Metals Dropped: Gold (XAUUSD) dipped 0.48%, and Silver (XAGUSD) declined 0.94%.

G10 Forex

AUD & JPY are Top Gainers

In the G10 FX Market, the Australian Dollar (AUD: Soared 0.07%) and Japanese Yen (JPY: Increased 0.03%) are the top gainers today versus the US Dollar (USD).

EUR & SEK are Top Laggers

On the other hand, the Euro (EUR: Dropped 0.1%) and Swedish Krona (SEK: Dipped 0.1%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Down

Asian Markets Mixed

In the Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 39539.5, down 0.11%. The Hang Seng (HKG33) was trading at 22991.0, up 1.53%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8313.449.
• France’s CAC 40 (FRA40) traded flat at 7580.8.
• Germany’s DAX 30 (GER30) traded flat at 19191.9.

US Equities Futures Dropped

Looking at Equity Futures so far, the SP500 Futures was trading at 5749.8501, down 0.16%.

Popular US Indices Slightly Slipped

• Standard & Poor’s 500 (SPX500) slightly dipped to 5748.05.
• Nasdaq (NAS100) traded flat at 20015.4.
• The Dow Jones Industrial Average (USA30) slightly slipped to 42346.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 77.495, down 0.51%. The WTI Crude Futures was trading at 73.715, up 0.29%.

Spot Prices Declined

• Brent Crude (UKOIL) dropped 0.53% to $77.475 a barrel.
• WTI Crude (OIL) dipped 0.51% to $73.69 a barrel.
• Natural Gas (NATGAS) declined 0.38% to $3.0435/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dropped 0.48% to 2640.205.
• Silver (XAGUSD) declined 0.94% to 31.8805.

To Summarize

Today’s Forex trading newsletter covers the status of various financial instruments across Forex, stock indices, and commodities at the morning bell. The global markets showcase a glooming start. Stay tuned for more latest updates as the Euro Area Retail Sales and other economic data releases later today may influence the market dynamics.

_{We compared the Live Rates at about 05:53 AM GMT to the Friday Close Values to calculate the Percentage Differences. Image Courtesy: Markus Spiske on Unsplash}