Forex Newsletter: Downbeat Beginning, JPY & CHF Shine

London: 20 September 2024 (TraderMade): Welcome to today's FX Newsletter! The global financial markets showcase a gloomy beginning today. Yen & Norwegian Krone led the pack in Forex, yet there are downbeat signals from US indices and Crude Oil. Let's take you through the sector-wise updates for more details:

Key Takeaways

• Forex: JPY (Up 0.21%) & CHF (Up 0.1%) surged while AUD (Down 0.1%) & NOK (Down 0.07% dipped vs USD.
• Asia-Pacific Mixed: Nikkei (JPN225) declined 0.34%, and Hang Seng (HKG33) surged 0.28%.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded falt at writing time.
• US Markets Narrowly Declined: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) dropped close to 0.1%.
• Energy Markets Mixed: Brent Crude (UKOIL) & WTI Crude (OIL) dropped about 0.3%, yet Natural Gas (NATGAS) surged 0.67%.
• Precious Metals Gained: Gold (XAUUSD) soared 0.3%, and Silver (XAGUSD) surged 0.95%.

G10 Forex

JPY & CHF are Top Gainers

Despite the overall market trend, the Japanese Yen (JPY: Surged 0.21%) and Swiss Francs (CHF: Soared 0.1%) demonstrated resilience and emerged as the top gainers against the US Dollar (USD) today.

AUD & NOK are Top Laggers

The Australian Dollar (AUD: Dropped 0.1%) and Norwegian Krone (NOK: Slipped 0.07%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Down

Asian Markets Mixed

Asian equities are trading in a mixed pattern. The Nikkei (JPN225) was trading at 37798.5, down 0.34%, while the Hang Seng (HKG33)was trading at 18190.5, up 0.28%.

European Indices Flat

• The UK's FTSE 100 (UK100) traded flat at 8328.7.
• France's CAC 40 (FRA40) traded flat at 7621.8.
• Germany's DAX 30 (GER30) traded flat at 18972.2.

US Equities Futures Dropped

Looking at Equity Futures, the SP500 Futures was trading at 5714.4502, down 0.03%.

Popular US Indices Slightly Dipped

• Standard & Poor's 500 (SPX500) dropped about 0.1% to 5716.45.
• Nasdaq (NAS100) slightly dipped by 0.06% to 19826.8.
• Dow Jones Industrial Average (USA30) also slipped 0.08% to 42090.

Energy Markets

Crude Oil Futures Slipped

In the energy space, oil futures trade is weak today. The WTI Crude Futures was trading at 70.83, down 0.11%, and the Brent Crude Futures was trading at 73.92, down 0.3%.

Spot Prices Mixed

• Brent Crude (UKOIL) dropped 0.3% to $73.915 a barrel.
• WTI Crude (OIL) also dipped 0.31% to $70.83 a barrel.
• Natural Gas (NATGAS) gained 0.67% to $2.6175/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) surged 0.3% to 2594.585.
• Silver (XAGUSD) made modest gains of 0.95% to 31.0745.

To Summarize

Today's Forex trading newsletter comprehensively overviews the current financial landscape. The global markets are off to a subdued start, and we're closely monitoring the potential impact of the recent Fed, BoE, and BoJ interest rate decisions on market dynamics.

_{We compared Live Rates at about 05:57 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: PiggyBank on Unsplash}