Forex Newsletter: Mixed Bag with NOK & SEK Surging

Forex Newsletter: Mixed Bag with NOK & SEK Surging

Published on: Aug 06, 2024|3 min read
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London: 6 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start this morning. NOK & SEK led the pack in Forex, Asian indices are mixed, US Markets soared, and Energy & Metals showcase mixed signals, too. Let’s take you through the sector-wise updates:

Key Takeaways

  • Forex: Top Gainers: NOK (Soared 0.28%) & SEK (Surged 0.25%); Top Laggers: JPY (Slipped 0.9%) & CHF (Dipped 0.39%) vs USD.
  • Asia-Pacific Mixed: Nikkei (JPN225) soared 0.19% and Hang Seng (HKG33) dipped 0.76%.
  • European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
  • US Markets Soared: S&P 500 (SPX500) was up 0.68%, Nasdaq (NAS100) gained 0.84%, and Dow Jones (USA30) also soared 0.48% today.
  • Energy Markets Mixed: Brent Crude (UKOIL) was almost unchanged, WTI Crude (OIL) edged up 0.1%, and Natural Gas (NATGAS) surged 0.93% today.
  • Precious Metals Mixed: Gold (XAUUSD) slightly edged up, yet Silver (XAGUSD) dipped 0.2% today.

G10 Forex

NOK & SEK are Top Gainers

In the G10 FX Market, Norwegian Krone (NOK: Up 0.28%) and Swedish Krona (SEK: Soared 0.25%) are the top gainers today versus the dollar (USD).

JPY & CHF are Top Laggers

The Japanese Yen (JPY: Down 0.9%) and Swiss francs (CHF: Dipped 0.39%) are the top losers versus the dollar (USD).

USDJPY Chart

Forex Daily Pivot Points

FX Daily Pivots

Global Indices Mixed

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 33933.5, up 0.19%. The Hang Seng (HKG33) was trading at 16656.0, down 0.76%.

European Indices Flat

The UK’s FTSE 100 (UK100) traded flat at 8005.6. France’s CAC 40 (FRA40) traded flat at 7146.5. Germany’s DAX 30 (GER30) traded flat at 17340.2.

US Equities Futures Soared

Looking at Equity Futures so far, The SP500 Futures was trading at 5258.0498, up 0.19%.

Standard & Poor’s 500 (SPX500) soared 0.68% to 5256.75. Nasdaq (NAS100) surged 0.84% to 18192.898. Dow Jones Industrial Average (USA30) followed suit to surge 0.48% to 39064.5.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures were trading at 77.135, up 0.01%, and the WTI Crude Futures were trading at 73.505, down 0.21%.

Spot Prices Mixed

Brent Crude (UKOIL) traded unchanged at $77.125 a barrel. WTI Crude (OIL) edged up 0.1% to $73.5 a barrel. Natural Gas (NATGAS) surged 0.93% to $2.0185/MMBtu.

Precious Metals Mixed

Gold (XAUUSD) slightly edged up to 2410.305. Silver (XAGUSD) dipped 0.196% to 27.196.

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 updates as the RBA interest rate decision and other economic events may change market dynamics as the trading day progresses.

Live Rates at about 05:27 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: pvproductions on Freepik