Forex Newsletter: Pessimistic Start with Yen & Dollar Leading

London: 8 November 2024 (TraderMade): Welcome to today's FX Newsletter!

The global financial markets started downbeat today, with the Yen & US Dollar soaring while the Aussie & Kiwi dipped. Global indices were mostly down. Crude Oil dropped, yet Natural Gas gained. Similarly, Precious Metals dropped significantly.

Let's go through the sector-wise updates:

Key Takeaways

• Forex: JPY & USD soared while AUD (Down 0.39%) & NZD (Down 0.26%) dipped vs USD.
• Asia-Pacific Dipped: Nikkei (JPN225) dropped 1.17%, & Hang Seng (HKG33) plummeted 2.52%.
• European Indices Down: FTSE (UK100) dipped 0.21%, CAC (FRA40) slipped 0.19, & DAX (GER30) lost 0.15%.
• US Markets Mixed: S&P 500 (SPX500) & Dow Jones (USA30) were almost unchanged, while Nasdaq (NAS100) soared 0.14%.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.38%, WTI Crude (OIL) slipped 0.28%, yet Natural Gas (NATGAS) soared 0.37%.
• Precious Metals Dipped: Gold (XAUUSD) slipped 0.4%, & Silver (XAGUSD) dipped 0.95%.

G10 Forex

JPY & USD are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY) and the US Dollar (USD) are today's top gainers as they surged against the other major currencies.

AUD & NZD are Top Laggers

On the other hand, the Australian Dollar (AUD: Dropped 0.39%) and New Zealand Dollar (NZD: Declined 0.26%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Dipped

Asian Markets Down

In Asian equities, markets are trading weakly today.

• The Nikkei (JPN225) was trading at 39415.6992, down 1.17%.
• The Hang Seng (HKG33) was trading at 20865.3008, down 2.52%.

European Indices Weaker

In European equities, indices traded weakly today.

• The UK's FTSE 100 (UK100) dropped 0.21% to 8161.52.
• France's CAC 40 (FRA40) dipped 0.19% to 7450.0098.
• Germany's DAX 30 (GER30) slipped 0.15% to 19416.4004.

US Equities Futures Declined

Looking at Equity Futures so far, the SP500 Futures was trading at 5981.3198, down 0.04%.

Popular US Indices Mixed

• Standard & Poor's 500 (SPX500) traded flat at 5983.72.
• Nasdaq (NAS100) soared 0.14% to 21158.5.
• Dow Jones Industrial Average (USA30) traded flat at 43836.

Energy Markets

Crude Oil Futures Dipped

In the energy space, oil futures trade is weaker today. The Brent Crude Futures was trading at 75.077, down 0.44%. The WTI Crude Futures was trading at 71.56, down 0.49%.

Spot Prices Mixed

• Brent Crude (UKOIL) dropped 0.38% to $75.1225 a barrel.
• WTI Crude (OIL) slipped 0.28% to $71.67 a barrel.
• Natural Gas (NATGAS) surged 0.37% to $2.8625/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dropped 0.4% to 2695.63.
• Silver (XAGUSD) dipped 0.95% to 31.728.

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 news & updates from the financial world as the trading day progresses.

_{We compared the Live Rates at about 05:54 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Jack B on Unsplash}