Forex Newsletter: Mixed Bag with JPY & CHF Soaring

London: 24 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start, with JPY & CHF leading the pack in Forex, declines in worldwide indices, crude oil trading flat, and a surge in Natural Gas, Gold, and Silver. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: JPY (Up 0.59%) & CHF (Up 0.02%), Top Laggers: NZD (Down 0.56%) & AUD (Down 0.42%) versus USD.
• Asia-Pacific Dipped: Nikkei (JPN225) was down 0.3%, Hang Seng (HKG33) was down 0.66% today.
• European Indices Dipped: FTSE (UK100) was down 0.34%, CAC (FRA40) slipped 0.3%, and DAX (GER30) declined 0.51% at writing time.
• US Markets Down: S&P 500 (SPX500) dipped 0.66%, Nasdaq (NAS100) slipped 1.03%, and Dow Jones (USA30) declined 0.25%.
• Energy Markets Mixed: Brent Crude (UKOIL) and WTI Crude (OIL) were almost unchanged, yet Natural Gas (NATGAS) soared 0.14% today.
• Precious Metals Surged: Gold (XAUUSD) was up by 0.34%, and Silver (XAGUSD) also soared 0.38% today.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Surged 0.59%) and Swiss francs (CHF: Edged up 0.02%) are the top gainers today versus the dollar (USD).

NZD & AUD are Top Laggers

The New Zealand Dollar (NZD: Dipped 0.56%) and the Australian Dollar (AUD: Slipped 0.42%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Declining

Asian Markets Down

In Asian equities, markets were trading weak today. The Nikkei 225 was trading at 39192.5, down 0.3%. The Hang Seng was trading at 17333.0, down 0.66%.

European Indices Declined

• The UK’s FTSE 100 (UK100) dipped 0.34% to 8141.9.
• France’s CAC 40 (FRA40) slipped 0.3% to 7540.
• Germany’s DAX 30 (GER30) declined 0.51% to 18453.6.

US Equities Futures Slipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5534.25, down 0.07%.

Popular US Indices Slipped

• Standard & Poor’s 500 (SPX500) declined 0.66% to 5529.05.
• Nasdaq (NAS100) plummeted 1.03% to 19601.05.
• Dow Jones Industrial Average (USA30) also dipped 0.25% to 40281.

Energy Markets

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures were trading at 76.91, down 0.25%, and the Brent Crude Futures were trading at 80.36, down 0.42%.

Spot Prices Mixed

• Brent Crude (UKOIL) slightly dipped to $80.615 a barrel.
• WTI Crude (OIL) narrowly slipped to $77.155 a barrel.
• Natural Gas (NATGAS) soared 0.14% to $2.1965/MMBtu.

Precious Metals Gained

• Gold (XAUUSD) soared 0.31% to 2417.115.
• Silver (XAGUSD) surged 0.38% to 29.347.

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 as we come up with the latest updates as the trading day unfolds.

_{Live Rates at about 06:22 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: freepik}