Forex Newsletter: Cheerful Start with NOK & SEK Soaring

London: 29 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global markets showcase an optimistic start, with NOK & SEK leading the pack in Forex and positive vibes across global indices and commodities markets. Let’s take you through the sector-wise details:

Key Takeaways

• Forex: Top Gainers: NOK (Up 0.26%) & SEK (Up 0.13%), Top Laggers: NZD & USD.
• Asia-Pacific Edged Up: Nikkei (JPN225) soared 0.77%, Hang Seng (HKG33) surged 1.2%.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Optimistic: S&P 500 (SPX500) soared 0.51%, Nasdaq (NAS100) surged 0.79%, and Dow Jones (USA30) also edged up 0.35%.
• Energy Markets Heat Up: Brent Crude (UKOIL) soared 1.17%, WTI Crude (OIL) surged 1.23%, and Natural Gas (NATGAS) gained 2.49% today.
• Precious Metals Surged: Gold (XAUUSD) soared 0.16% today, while Silver (XAGUSD) surged 0.42%.

G10 Forex

NOK & SEK are Top Gainers

In the G10 FX Market, Norwegian Krone (NOK: Surged 0.26%) and Swedish Krona (SEK: Soared 0.13%) are the top gainers today versus the dollar (USD).

NZD & USD are Top Laggers

The New Zealand Dollar (NZD) and the US Dollar (USD) are the top losers today as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices Mostly Positive

Asian Markets Soared

Today, Asian equities markets are stronger. The Nikkei (JPN225) was trading at 38623.5, up 0.77%, and the Hang Seng (HKG33) was trading at 17328.0, up 1.2%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8313.7.
• France’s CAC 40 (FRA40) traded flat at 7535.6.
• Germany’s DAX 30 (GER30) traded flat at 18465.2.

US Equities Futures Edged Up

The SP500 Futures was trading at 5492.75, up 0.23%.

Popular US Indices Positive

• Standard & Poor’s 500 (SPX500) soared 0.51% to 5492.75.
• Nasdaq (NAS100) surged 0.79% to 19190.8.
• Dow Jones Industrial Average (USA30) followed suit to soar 0.35% to 40813.

Energy Markets Up

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures were trading at 80.695, up 1.19%, and the WTI Crude Futures were trading at 77.11, up 0.36%.

Spot Prices Soared

• Brent Crude (UKOIL) surged 1.17% to $80.675 a barrel.
• WTI Crude (OIL) soared 1.23% to $77.09 a barrel.
• Natural Gas (NATGAS) made modest gains of 2.49% to $2.12/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) edged up 0.16% to 2392.025.
• Silver (XAGUSD) surged 0.42% to 28.052.

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 indices, energy, and metals markets indicate a positive start. Stay tuned for further updates as the trading day unfolds.

_{Live Rates at about 05:47 AM GMT are compared to Friday Close Values to calculate the Percentage Differences. Image Courtesy:}