Forex Newsletter: Gloomy Start with CHF & JPY Gaining

London: 4 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets start on a downbeat note this morning with significant declines across global stocks and commodities markets. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: CHF (Up 0.26%) & JPY (Up 0.25%) gained while AUD (Down 0.12%) & NZD (Down 0.06%) declined against the USD.
• Asia-Pacific Down: Nikkei (JPN225) dipped 0.83%, and Hang Seng (HKG33) slipped 0.51% today.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Declined: S&P 500 (SPX500) dipped 0.45%, Nasdaq (NAS100) slipped 0.66%, and Dow Jones (USA30) also declined 0.35%.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.29%, WTI Crude (OIL) declined 0.38%, yet Natural Gas (NATGAS) soared 0.26% today.
• Precious Metals Lost Shine: Gold (XAUUSD) slipped 0.18%, and Silver (XAGUSD) also dipped 0.2% today.

G10 Forex

CHF & JPY are Top Gainers

In the G10 FX Market, Swiss francs (CHF: Surged 0.26%) and Japanese Yen (JPY: Soared 0.25%) are the top gainers today versus the dollar (USD).

AUD & NZD are Top Laggers

The Australian Dollar (AUD: Dipped 0.12%) and New Zealand Dollar (NZD: Slipped 0.06%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Downbeat

Asian Markets Dipped

In the Asian equities, markets were trading weaker today. The Nikkei (JPN225) was trading at 37073.5, down 0.83%. The Hang Seng (HKG33) was trading at 17409.0, down 0.51%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8266.7.
• France’s CAC 40 (FRA40) traded flat at 7548.8.
• Germany’s DAX 30 (GER30) traded flat at 18648.1.

US Equities Futures Declined

Looking at Equity Futures so far, the SP500 Futures was trading at 5503.1499, down 0.35%.

Popular US Indices Declined

• Standard & Poor’s 500 (SPX500) dipped 0.45% to 5500.95.
• Nasdaq (NAS100) dropped 0.66% to 18822.55.
• Dow Jones Industrial Average (USA30) declined 0.35% to 40812.

Energy Markets

Crude Oil Futures Slipped

In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 73.3, down 0.32%. The WTI Crude Futures was trading at 69.545, down 0.38%.

Spot Prices Mixed

• Brent Crude (UKOIL) slipped 0.29% to $73.325 a barrel.
• WTI Crude (OIL) dipped 0.38% to $69.565 a barrel.
• Natural Gas (NATGAS) surged 0.26% to $2.353/MMBtu.

Precious Metals Dipped

• Gold (XAUUSD) dropped 0.18% to 2494.875.
• Silver (XAGUSD) dipped 0.2% to 27.985.

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 financial markets indicate a pessimistic start, with declines across global stocks and commodities this morning. Stay tuned for further updates as the trading day progresses.

_{Live Rates at about 05:44 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: pikisuperstar on Freepik}