Forex Newsletter: Downbeat Start with NZD & NOK Soaring

London: 17 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a downbeat start with a cautious stance across the global indices, Energy, and Metals markets. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: NZD (up 0.28%) & NOK (up 0.16%) gained while GBP (down 0.05%) & CAD (down 0.01%) declined against the USD today.
• Asia-Pacific Slipped: Nikkei (JPN225) was down 0.84% and Hang Seng (HKG33) dipped 0.76% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Mixed: S&P 500 (SPX500) slipped 0.14%, Nasdaq (NAS100) dipped 0.31%, and Dow Jones (USA30) slightly edged up.
• Energy Markets Mixed: Brent Crude (UKOIL) slipped 0.16%, WTI Crude (OIL) dipped 0.18%, yet Natural Gas (NATGAS) soared 0.27% today.
• Precious Metals Declined: Gold (XAUUSD) slightly slipped 0.06%, and Silver (XAGUSD) dipped 0.85% today.

G10 Forex

NZD & NOK are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD: up 0.28%) and Norwegian Krone (NOK: up 0.16%) are the top gainers today versus the dollar (USD).

GBP & CAD are Top Laggers

The British Pound (GBP: down 0.05%) and Canadian Dollar (CAD: down 0.01%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Dipped

Today, Asian equities markets are weaker. The Nikkei (JPN225) was trading at 41147.0, down 0.84%, and the Hang Seng (HKG33) was trading at 17673.0, down 0.76%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8202.4.
• France’s CAC 40 (FRA40) traded flat at 7600.6.
• Germany’s DAX 30 (GER30) traded flat at 18580.7.

US Equities Futures Slipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5663.9502, down 0.12%.

Popular US Indices Mixed

• Standard & Poor’s 500 (SPX500) slipped 0.14% to 5664.85.
• Nasdaq (NAS100) dipped 0.31% to 20352.352.
• Dow Jones Industrial Average (USA30) slightly edged up to 41034.

Energy Markets Down

Crude Oil Futures Declined

In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures were trading at 79.585, down 0.12%, and the Brent Crude Futures were trading at 82.945, down 0.22%.

Spot Prices Mixed

• Brent Crude (UKOIL) slipped 0.16% to $82.995 a barrel.
• WTI Crude (OIL) dipped 0.18% to $79.65 a barrel.
• Natural Gas (NATGAS) surged 0.27% to $2.2055/MMBtu.

Precious Metals Declined

• Gold (XAUUSD) slightly dipped by 0.06% to 2467.24.
• Silver (XAGUSD) declined 0.85% to 30.9875.

To Summarize

Today’s forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. It may be interesting to watch how the UK inflation rate released this morning may change the market dynamics. So, stay tuned for more updates as the trading day unfolds.

_{Live Rates at about 05:40 AM GMT are compared to the Last Close values to calculate the percentage differences. Image Courtesy:}