Forex Newsletter: Pessimistic Start with USD & SEK Gaining

London: 14 November 2024 (TraderMade): Welcome to today's FX Newsletter!

The global financial markets indicated a downbeat beginning with US Dollar & Swedish Krona leading the pack in Forex, yet Kiwi & Yen dipping. The global stock indices declined. Similarly, there are gloomy signals from the Energy & Metals markets.

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

Key Takeaways

• Forex: USD & SEK soared while NZD (Down 0.41%) & JPY (Down 0.38%) dipped vs USD.
• Asia-Pacific Slipped: Nikkei (JPN225) dropped 0.77%, & Hang Seng (HKG33) was down 0.32%.
• European Indices Dipped: FTSE (UK100) slipped 0.26%, CAC (FRA40) dropped 0.41%, & DAX (GER30) dipped 0.33% at writing time.
• US Markets Down: S&P 500 (SPX500) slipped 0.16%, Nasdaq (NAS100) dipped 0.24%, & Dow Jones (USA30) dropped 0.19%.
• Energy Markets Declined: Brent Crude (UKOIL) dipped 0.18%, WTI Crude (OIL) slipped 0.07%, & Natural Gas (NATGAS) lost 0.3%.
• Precious Metals Lost Glimmer: Gold (XAUUSD) slipped 0.64%, & Silver (XAGUSD) dipped 0.83%.

G10 Forex

USD & SEK are Top Gainers

In the G10 FX Market, the US Dollar (USD) and Swedish Krona (SEK) are today's top gainers, surging against the other major currencies.

NZD & JPY are Top Laggers

On the other hand, the New Zealand Dollar (NZD: Dropped 0.41%) and Japanese Yen (JPY: Dipped 0.38%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Downbeat

Asian Markets Slipped

In Asian equities, markets were trading weaker today.

• The Nikkei (JPN225) was trading at 38643.6016, down 0.77%.
• The Hang Seng (HKG33) was trading at 19516.1992, down 0.32%.

European Indices Dipped

In the European equities, indices were trading weaker today.

• The UK's FTSE 100 (UK100) dipped 0.26% to 8023.8301.
• France's CAC 40 (FRA40) slipped 0.41% to 7209.1602.
• Germany's DAX 30 (GER30) also declined 0.33% to 18943.6992.

US Equities Futures Down

Looking at Equity Futures, the SP500 Futures was trading at 5987.52, down 0.21%.

Popular US Indices Declined

• Standard & Poor's 500 (SPX500) slipped 0.16% to 5988.23.
• Nasdaq (NAS100) decreased 0.24% to 21034.6.
• Dow Jones Industrial Average (USA30) dipped 0.19% to 43985.

Energy Markets

Crude Oil Futures Mixed

In the energy space, the oil futures are trading mixed today. The Brent Crude Futures was trading at 71.7395, down 0.02%. The WTI Crude Futures was trading at 67.885, up 0.01%.

Spot Prices Dropped

• Brent Crude (UKOIL) dropped 0.18% to $71.6275 a barrel.
• WTI Crude (OIL) slipped 0.07% to $67.85 a barrel.
• Natural Gas (NATGAS) dipped 0.3% to $3.1405/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dropped 0.64% to 2556.38.
• Silver (XAGUSD) declined 0.83% to 30.0695.

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 UK GDP & US PPI figures are announced later today, which may affect the market dynamics.

_{We compared the Live Rates at about 05:45 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Viktor Forgacs on Unsplash}