Forex Newsletter: Downbeat Beginning with JPY & CHF Gaining

London: 5 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a pessimistic start to this week. NOK & NZD in Forex, Global Indices, Energy, and Metals Markets experienced significant declines today. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: JPY (Soared 2.41%) & CHF (Edged Up 1.07%); Top Laggers: NOK (Dipped 0.73%) & NZD (Slipped 0.46%) vs USD.
• Asia-Pacific Down: Nikkei (JPN225) slipped 6.65%, and Hang Seng (HKG33) dropped 1.33% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Dipped: S&P 500 (SPX500) dipped 2.36%, Nasdaq (NAS100) was down 4.87%, and Dow Jones (USA30) also slipped 0.88% today.
• Energy Markets Down: Brent Crude (UKOIL) dipped 1.34%, WTI Crude (OIL) declined 1.44%, and Natural Gas (NATGAS) also declined 2.67% today.
• Precious Metals Dipped: Gold (XAUUSD) dipped 0.07%, and Silver (XAGUSD) dropped 0.91% today.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, Japanese Yen (JPY: up 2.41%) and Swiss francs (CHF: soared 1.07%) are the top gainers today versus the dollar (USD).

NOK & NZD are Top Laggers

The Norwegian Krone (NOK: Slipped 0.73%), and the New Zealand Dollar (NZD: Dropped 0.46%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Down

Asian Markets Slipped

Today, Asian equities markets are weak. The Nikkei (JPN225) was trading at 31988.0, down 6.65%, and the Hang Seng (HKG33) was trading at 16679.5, down 1.33%.

European Indices Flat

The UK’s FTSE 100 (UK100) traded flat at 8213.6. France’s CAC 40 (FRA40) traded flat at 7273.2. Similarly, Germany’s DAX 30 (GER30) traded flat at 17714.5.

US Equities Futures Dipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5229.9004, down 1.25%.

Popular US Indices Down

Standard & Poor’s 500 (SPX500) dipped 2.36% to 5206.55. Nasdaq (NAS100) slipped 4.87% to 17515.95. Dow Jones Industrial Average (USA30) followed suit to dip 0.88% to 39302.

Energy Markets Declined

Crude Oil Futures Slipped

In the Energy space, Oil futures were trading weak today. The WTI Crude Futures were trading at 72.51, down 1.23%, and the Brent Crude Futures were trading at 76.27, down 1.27%.

Spot Prices Declined

Brent Crude (UKOIL) declined 1.34% to $76.215 a barrel. WTI Crude (OIL) dipped 1.44% to $72.485 a barrel. Natural Gas (NATGAS) also slipped 2.67% to $1.9685/MMBtu.

Precious Metals Lost Shine

Gold (XAUUSD) narrowly dipped by 0.07% to 2439.725. Silver (XAGUSD) also slipped 0.91% to 28.299.

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 have started downbeat, yet stay tuned for further updates as the trading day progresses.

_{Live Rates at about 05:51 AM are compared to the Friday Close Values to calculate the Percentage Differences. Image Courtesy: freepik}