Forex Newsletter: Cautious Start with JPY & CHF Surging

London: 23 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets showcase a cautious start this morning. Though JPY & CHF gained against the greenback, global indices, energy, and metals markets have declined. Let’s take you through the sector-wise details:

Key Takeaways

• Forex: Top Gainers: JPY (Up 0.42%) & CHF (Up 0.04%); Top Laggers: NZD (Down 0.18%) & AUD (Down 0.17%.
• Asia-Pacific Dipped: Nikkei (JPN225) was down 0.61%, Hang Seng (HKG33) was also down 0.74% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Slipped: S&P 500 (SPX500) was down 0.12%, Nasdaq (NAS100) was down 0.23%, and Dow Jones (USA30) slightly dipped 0.07%.
• Energy Markets Mixed: Brent Crude (UKOIL) was slightly up, WTI Crude (OIL) traded flat, and Natural Gas (NATGAS) surged 0.57% today.
• Precious Metals Declined: Gold (XAUUSD) slipped 0.14%, and Silver (XAGUSD) dipped 0.65% today.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, Japanese Yen (JPY: Soared 0.42%) and Swiss Francs (CHF: Edged Up 0.04%) are the top gainers today versus the dollar (USD).

NZD & AUD are Top Laggers

The New Zealand Dollar (NZD: Dipped 0.18%) and the Australian Dollar (AUD: Slipped 0.17%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Down

Asian Markets Weaker

Today, Asian equities markets are weak. The Nikkei 225 was trading at 39668.0, down 0.61%, and the Hang Seng was trading at 17567.0, down 0.74%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8215.7.
• France’s CAC 40 (FRA40) traded flat at 7652.2.
• Germany’s DAX 30 (GER30) traded flat at 18471.75.

US Equities Futures Dipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5563.8501, down 0.07%.

Popular US Indices Declined

• Standard & Poor’s 500 (SPX500) dipped 0.12% to 5562.65.
• Nasdaq (NAS100) slipped 0.23% to 19780.4.
• Dow Jones Industrial Average (USA30) slightly dipped by 0.07% to 40438.

Energy Markets

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures were trading at 78.14, up 0.13%, and the Brent Crude Futures were trading at 81.545, up 0.12%.

Spot Prices Mixed

• Brent Crude (UKOIL) slightly edged up to $81.47501 a barrel.
• WTI Crude (OIL) traded flat at $78.09 a barrel.
• Natural Gas (NATGAS) gained 0.57% to $2.282/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dipped 0.14% to 2393.
• Silver (XAGUSD) declined 0.65% to 28.9295.

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 updates, as the Euro Area Consumer Confidence and other economic releases scheduled later today may affect the market dynamics.

_{Live Rates at about 05:57 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: rawpixel.com on Freepik}