Forex Newsletter: Gloomy Start with CHF & AUD Soaring

London: 2 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a downbeat start this morning. USD & GBP in Forex and global indices declined; Crude Oil dipped, yet Natural Gas, Gold, and Silver soared. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: CHF (Up 0.16%) & AUD (Up 0.15%) gained vs USD; USD & GBP are top laggers today.
• Asia-Pacific Dipped: Nikkei (JPN225) was down 1.58%, Hang Seng (HKG33) also dipped 1.32% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Down: S&P 500 (SPX500) dipped 0.65%, Nasdaq (NAS100) declined 1.12%, and Dow Jones (USA30) slipped 0.28%.
• Energy Markets Mixed: Brent Crude (UKOIL) and WTI Crude (OIL) traded almost flat, yet Natural Gas (NATGAS) slipped 0.57%.
• Precious Metals Surged: Gold (XAUUSD) edged up 0.73%, and Silver (XAGUSD) soared 1.4% today.

G10 Forex

CHF & AUD are Top Gainers

In the G10 FX Market, Swiss francs (CHF: Surged 0.16%) and the Australian Dollar (AUD: Soared 0.15%) are the top gainers today versus the dollar (USD).

USD & GBP are Top Laggers

The US Dollar (USD) and British Pound (GBP) are the top losers as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices Declined

Asian Markets Slipped

Today, Asian equities markets are weaker. The Nikkei (JPN225) was trading at 36007.5, down 1.58%, and the Hang Seng (HKG33) was trading at 16862.0, down 1.32%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8300.4.
• France’s CAC 40 (FRA40) traded flat at 7354.4.
• Germany’s DAX 30 (GER30) traded flat at 18037.8.

US Equities Futures Dipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5402.75, down 0.5%.

Popular US Indices Down

• Standard & Poor’s 500 (SPX500) dipped 0.65% to 5403.45.
• Nasdaq (NAS100) declined 1.12% to 18635.05.
• Dow Jones Industrial Average (USA30) slipped 0.28% to 40139.

Energy Markets Dipped

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 76.265, up 0.01%, and the Brent Crude Futures was trading at 79.88, down 0.13%.

Spot Prices Mixed

• Brent Crude (UKOIL) slightly edged up to $80.015 a barrel.
• WTI Crude (OIL) narrowly dipped to $76.405 a barrel.
• Natural Gas (NATGAS) dipped 0.57% to $2.0175/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) surged 0.73% to 2464.245.
• Silver (XAGUSD) soared 1.4% to 28.92.

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 news as the trading day progresses.

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