Forex Newsletter: Upbeat Start with Yen & Swiss Francs Gaining

London: 4 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate an optimistic start this morning. Yen & Swiss Francs emerged as the top gainers in Forex. Similarly, there are upbeat signals from global stock indices, and commodities markets, except Crude Oil losing ground. Let’s go through the sector-wise updates:

Key Takeaways

• Forex: JPY (Up 0.51%) & CHF (Up 0.23%) soared while EUR (Down 0.01%) & NZD (Down 0.01%) dipped vs USD.
• Asia-Pacific Up: Nikkei (JPN225) soared 0.22%, and Hang Seng (HKG33) made modest gains of 2.74%.
• European Indices Soared: FTSE (UK100) gained 0.12%, CAC (FRA40) soared 0.09%, and DAX (GER30) edged 0.13% at writing time.
• US Markets Surged: S&P 500 (SPX500) soared 0.14%, Nasdaq (NAS100) surged 0.29%, and Dow Jones (USA30) slightly increased (yet almost unchanged).
• Energy Markets Mixed: Brent Crude (UKOIL) dropped 0.38%, WTI Crude (OIL) dipped 0.18%, yet Natural Gas (NATGAS) soared 0.59%.
• Precious Metals Gained: Gold (XAUUSD) soared 0.43%, and Silver (XAGUSD) surged 0.66%.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Soared 0.51%) and Swiss Francs (CHF: Surged 0.23%) are the top gainers today versus the dollar (USD).

EUR & NZD are Top Laggers

On the other hand, the Euro (EUR: Dropped 0.01%) and New Zealand Dollar (NZD: Also Dipped 0.01%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Positive

Asian Markets Stronger

In the Asian equities, markets were trading stronger today. The Nikkei (JPN225) was trading at 38630.5, up 0.22%. The Hang Seng (HKG33) was trading at 22613.5, up 2.74%.

European Indices Optimistic

• The UK’s FTSE 100 (UK100) soared 0.12% to 8287.3.
• France’s CAC 40 (FRA40) edged 0.09% to 7476.3.
• Germany’s DAX 30 (GER30) followed suit to surge 0.13% to 19006.9.

US Equities Futures Soared

Looking at Equity Futures so far, the SP500 Futures was trading at 5709.0498, up 0.1%.

Popular US Indices Gained

• Standard & Poor’s 500 (SPX500) surged 0.14% to 5706.85.
• Nasdaq (NAS100) soared 0.29% to 19828.9.
• The Dow Jones Industrial Average (USA30) slightly picked up to 42028.5.

Energy Markets

Crude Oil Futures Down

In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 77.385, down 0.3%. The WTI Crude Futures was trading at 73.31, down 0.32%.

Spot Prices: Crude Oil Down, Natural Gas Up

• Brent Crude (UKOIL) slipped 0.38% to $77.325 a barrel.
• WTI Crude (OIL) dipped 0.18% to $73.27 a barrel.
• Natural Gas (NATGAS) surged 0.59% to $3.155/MMBtu.

Precious Metals Gained Glimmer

• Gold (XAUUSD) surged 0.43% to 2667.7349.
• Silver (XAGUSD) soared 0.66% to 32.2415.

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 start optimistically. Yet, US JOLTs job openings and the unemployment rate being released later today may impact the market dynamics. Stay tuned for more updates.

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