Weekly Market Snapshot: Optimistic Outlook

Published on: May 10, 2024|2 min read

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London: 10 May 2024 (TraderMade): The global financial markets painted an encouraging picture by the end of this week, as some currencies gained and global indices soared. Similarly, commodities, including crude oil, natural gas, gold, and Silver, made modest gains over the last week. Here are the sector-wise details:

Key Takeaways

ZAR (up 0.54%) and NOK (up 0.48%) are top gainers, while JPY (down 1.85%) and CNH (down 0.51%) are top losers in forex against the dollar this week.
Asia Surged: Nikkei (JPN225) up 1.05%, Hang Seng (HKG33) up 2.19%.
Europe Surged: FTSE (UK100) surged 2.82%, CAC (FRA40) soared 3.51%, and DAX (GER30) surged 4.28%.
US Surged: S&P 500 (SPX500) surged 3.11%, Nasdaq (NAS100) soared 3.32%, and Dow Jones (USA30) edged up by 2.87%.
Energy Market Heated Up: Brent Crude (UKOIL) was up by 0.1%, WTI Crude (OIL) soared by 0.3%, and Natural Gas (NATGAS) made modest gains of 2.52% over the last week.
Precious Metals Shine: Gold (XAUUSD) surged 2.86%, and Silver made modest gains of 6.38% over the last week.

G10 Forex

The South African Rand (ZAR) surged 0.54%, and the Norwegian Krone (NOK) soared 0.48% against the US Dollar (USD). These are the top-gaining currencies in the Forex market this week.

On the contrary, the Japanese yen (JPY) declined 1.85%, and the Chinese yen (CNH) dipped 0.51% against the US dollar (USD) this week. These are the top losing currencies this week.

Movements vs Dollar

Asian Markets Surged

Japan’s Nikkei (JPN225) surged 1.05%, while Hong Kong’s Hang Seng (HKG33) soared 2.19% over the last week.

European Markets Edged Up

The UK’s FTSE (UK100) surged 2.82%, France’s CAC (FRA40) soared 3.51%, and Germany’s DAX (GER30) picked up 4.28%.

US Markets Soared

Standard & Poor’s 500 (SPX500) surged 3.11%, Nasdaq (NAS100) soared 3.32%, and Dow Jones Industrial Average (USA30) surged 2.87%.

Energy Markets Heated Up

Brent Crude (UKOIL) slightly edged up by about 0.1%, and WTI Crude (OIL) surged by about 0.3% after a rollercoaster ride throughout the last week. Similarly, Natural Gas (NATGAS) surged 12.52% after a consistent upward trend over the last week.

Precious Metals Shine

Gold (XAUUSD) surged 2.86%, and Silver (XAGUSD) soared 6.38% over the last week.

The Bottom Line

Global financial markets are about to conclude this week on a positive note. Modest gains among global equities and commodities keep market participants optimistic this week. Stay with us as we let you know the latest updates across various sectors to help you make informed decisions.