Forex Newsletter: Gloomy Start with JPY & CHF Soaring

London: 8 July 2024 (TraderMade): Welcome to today’s FX Newsletter! JPY & CHF lead the pack in Forex; Global indices mainly were down; Crude Oil & Metals also dipped. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (Up 0.15%) & CHF (Up 0.07%) surged while SEK (Down 0.18%) & EUR (Down 0.13%) lagged versus the USD today.
• Asia-Pacific Slipped: Nikkei (JPN225) was slightly down by 0.01%, Hang Seng (HKG33) dipped 1.12% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Mostly Dipped: S&P 500 (SPX500) and Nasdaq (NAS100) slightly dipped while Dow Jones (USA30) declined 0.13%.
• Energy Markets Mixed: Brent Crude (UKOIL) slipped 0.53%, WTI Crude (OIL) dipped 0.59%, and Natural Gas (NATGAS) soared 0.51% today.
• Precious Metals Lost Shine: Gold (XAUUSD) dipped 0.33%, Silver (XAGUSD) declined 0.57%.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, Japanese Yen (JPY: Soared 0.15%) and Swiss Francs (CHF: Edged up 0.07%) are the top gainers today versus the dollar (USD).

SEK & EUR are Top Laggers

Swedish Krona (SEK: Dipped 0.18%) and Euro (EUR: Slipped 0.13%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Declined

Asian Markets Dipped

In Asian equities, markets were trading weaker today. The Nikkei (JPN225) was trading at 40899.0, down 0.01%. The Hang Seng (HKG33) was trading at 17501.0, down 1.12%.

European Indices Flat

• The UK’s FTSE 100 (UK100) trades flat at 8207.3.
• France’s CAC 40 (FRA40) trades flat at 7684.3.
• Germany’s DAX 30 (GER30) trades flat at 18498.9.

US Equities Futures Slipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5562.9502, down 0.02%.

Popular US Indices Mostly Dipped

• Standard & Poor’s 500 (SPX500) traded flat at 5564.95.
• Nasdaq (NAS100) slightly dipped to 20395.45.
• Dow Jones Industrial Average (USA30) dipped 0.13% to 39346.

Energy Markets

Crude Oil Futures Weakened

In the Energy space, Oil futures were trading weak today. The WTI Crude Futures was trading at 82.345, down 0.36%. The Brent Crude Futures was trading at 86.065, down 0.52%.

Spot Prices Mixed

• Brent Crude (UKOIL) dipped 0.53% to $86.055 a barrel.
• WTI Crude (OIL) slipped 0.59% to $82.32 a barrel.
• Natural Gas (NATGAS) edged up 0.51% to $2.3575/MMBtu.

Precious Metals Down

• Gold (XAUUSD) dipped 0.33% to 2383.065.
• Silver (XAGUSD) declined 0.57% to 31.036.

To Summarize

Today’s forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. Though most financial instruments start downbeat this morning, please stay tuned for the latest updates as the trading day unfolds.

_{Live rates at about 05:44 AM GMT are compared to Friday Close values to calculate percentage differences. Image Courtesy:}