Forex Newsletter: Mixed Beginning with JPY & CHF Soaring

London: 18 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start this morning. Yen & Swiss Francs led the pack in Forex; Asian indices were mixed; European indices edged up; US indices soared; Crude Oil dropped; Natural Gas surged; Metals declined. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (Up 0.73%) & CHF (Up 0.21%) soared while NOK (Down 0.11%) & AUD (Down 0.03%) vs USD.
• Asia-Pacific Mixed: Nikkei (JPN225) dropped 0.8%, and Hang Seng (HKG33) traded flat.
• European Indices Surged: FTSE (UK100) slightly edged up, CAC (FRA40) soared 0.1%, and DAX (GER30) surged 0.15%.
• US Markets Up: S&P 500 (SPX500) & Dow Jones (USA30) surged 0.11%, and Nasdaq (NAS100) slightly edged up.
• Energy Markets Mixed: Brent Crude (UKOIL) dropped 0.61%, WTI Crude (OIL) declined 0.67%, yet Natural Gas (NATGAS) surged 0.97% today.
• Precious Metals Dipped: Gold (XAUUSD) slightly dropped, and Silver (XAGUSD) declined 0.69%.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Surged 0.73%) and Swiss Francs (CHF: Soared 0.21%) are the top gainers today versus the dollar (USD).

NOK & AUD are Top Laggers

The Norwegian Krone (NOK: declined 0.11%) and the Australian Dollar (AUD: dropped 0.03%) are the top losers compared to the dollar (USD).

Forex Daily Pivot Points

Global Indices

Asian Markets Down

Today, Asian equities markets are weaker. The Nikkei (JPN225) was trading at 36320.0, down 0.8%, and the Hang Seng (HKG33) was trading flat at 17625.5.

European Indices Soared

• The UK’s FTSE 100 (UK100) slightly increased to 8304.699.
• France’s CAC 40 (FRA40) soared 0.1% to 7490.5.
• Germany’s DAX 30 (GER30) also surged 0.15% to 18736.148.

US Equities Futures Slightly Dipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5646.9502, down 0.03%.

Popular US Indices Surged

• Standard & Poor’s 500 (SPX500) soared 0.11% to 5649.45.
• Nasdaq (NAS100) narrowly edged up to 19464.8.
• Dow Jones Industrial Average (USA30) also soared 0.11% to 41736.

Energy Markets

Crude Oil Futures Declined

In the energy space, oil futures trade is weaker today. The WTI Crude Futures were trading at 69.41, down 0.64%, and the Brent Crude Futures were trading at 72.63, down 0.77%.

Spot Prices Mixed

• Brent Crude (UKOIL) declined 0.61% to $72.745 a barrel.
• WTI Crude (OIL) dropped 0.67% to $69.515 a barrel.
• Natural Gas (NATGAS) surged 0.97% to $2.601/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) narrowly slipped to 2568.247.
• Silver (XAGUSD) dropped 0.69% to 30.4885.

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 started on a downbeat note today. Stay tuned as the Fed interest rate decision may change the market dynamics later today.

_{Live Rates at about 06:02 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Coinhako on Unsplash}