Forex Newsletter: Mixed Beginning with JPY & CHF Gaining

London: 6 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed beginning today. Yen and Swiss francs, traditionally considered safe-haven currencies, lead the pack in Forex; Global indices are downbeat; Crude Oil dipped, yet Natural Gas soared; Gold gained, yet Silver declined. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (Up 0.51%) & CHF (Up 0.22%) gained while AUD (Down 0.12%) & NZD (Down 0.1%) declined against USD.
• Asia-Pacific Dipped: Nikkei (JPN225) dipped 1.24%, and Hang Seng (HKG33) traded flat.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Dipped: S&P 500 (SPX500) slid 0.09%, Nasdaq (NAS100) slipped 0.22%, and Dow Jones (USA30) also slightly dipped.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.17%, WTI Crude (OIL) slipped 0.28%, yet Natural Gas (NATGAS) soared 0.31% today.
• Precious Metals: Gold (XAUUSD) soared 0.16%, and Silver (XAGUSD) narrowly declined.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: up 0.51%) and Swiss francs (CHF: Soared 0.22%) are the top gainers today versus the dollar (USD).

AUD & NZD are Top Laggers

The Australian Dollar (AUD: Dipped 0.12%) and the New Zealand Dollar (NZD: Down 0.1%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Forex Daily Pivot Points are a technical analysis tool used to determine potential support and resistance levels for the trading day.

Global Indices Mixed

Asian Markets Down

Today, Asian equities markets are weaker. The Nikkei (JPN225) was trading at 36401.5, down 1.24%, and the Hang Seng (HKG33) was trading flat at 17437.5.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8240.3.
• France’s CAC 40 (FRA40) traded flat at 7440.3.
• Germany’s DAX 30 (GER30) traded flat at 18597.

US Equities Futures Slipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5493.0498, down 0.15%.

Popular US Indices Down

• Standard & Poor’s 500 (SPX500) dipped 0.09% to 5496.75.
• Nasdaq (NAS100) declined 0.22% to 18846.25.
• Dow Jones Industrial Average (USA30) slightly dipped to 40798.

Energy Markets

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures were trading at 72.635, down 0.1%, and the WTI Crude Futures were trading at 68.77, down 0.18%.

Spot Prices Mixed

• Brent Crude (UKOIL) dipped 0.17% to $72.585 a barrel.
• WTI Crude (OIL) decreased 0.28% to $68.72 a barrel.
• Natural Gas (NATGAS) surged 0.31% to $2.435/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) soared 0.16% to 2520.6.
• Silver (XAGUSD) slightly dipped to 28.8005.

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 markets are off to a downbeat start, with safe-haven currencies like JPY and CHF gaining ground. Stay tuned for more updates from the financial landscape as the trading day unfolds.

_{Live Rates at about 05:54 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}