Forex Newsletter: Mixed Signals with JPY & CHF Surging

London: 1 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed bag this morning. JPY & CHF continued their uptrend in Forex, and US indices also gained. Yet, crude oil and silver declined. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (up 0.2%) and CHF (up 0.13%) gained against USD, while AUD (down 0.16%) and NOK (down 0.05%) declined.
• Asia-Pacific Down: Nikkei (JPN225) dipped 1.62%, Hang Seng (HKG33) slipped 0.11%.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged.
• US Markets Up: S&P 500 (SPX500) edged up 0.36%, Nasdaq (NAS100) soared 0.41%, and Dow Jones (USA30) picked up 0.18%.
• Energy Markets Mixed: Brent Crude (UKOIL) and WTI Crude (OIL) were almost unchanged, yet Natural Gas (NATGAS) soared 0.5% today.
• Precious Metals Mixed: Gold (XAUUSD) slightly edged up, and Silver (XAGUSD) dipped 0.12% today.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Soared 0.2%) and Swiss francs (CHF: Edged up 0.13%) are the top gainers today versus the dollar (USD).

AUD & NOK are Top Laggers

The Australian Dollar (AUD: Slipped 0.16%) and the Norwegian Krone (NOK: Dipped 0.05%) are the top losers compared to the dollar (USD).

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Dipped

Today, Asian equities markets are weak. The Nikkei (JPN225) was trading at 38118.5, down 1.62%, and the Hang Seng (HKG33) was trading at 17330.0, down 0.11%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8379.9.
• France’s CAC 40 (FRA40) traded flat at 7531.6.
• Germany’s DAX 30 (GER30) traded flat at 18509.9.

US Equities Futures Edged Up

Looking at Equity Futures so far,The SP500 Futures was trading at 5560.1499, up 0.06%.

Popular US Indices Positive

• Standard & Poor’s 500 (SPX500) soared 0.36% to 5558.55.
• Nasdaq (NAS100) edged up 0.41% to 19539.3.
• Dow Jones Industrial Average (USA30) also soared 0.18% to 40989.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 78.05, up 0.13%. The Brent Crude Futures was trading at 81.41, down 0.06%.

Spot Prices Mixed

• Brent Crude (UKOIL) traded almost flat at $81.45 a barrel.
• WTI Crude (OIL) traded flat at $78.1 a barrel.
• Natural Gas (NATGAS) surged 0.5% to $2.0995/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) slightly edged up to 2448.7998.
• Silver (XAGUSD) dipped 0.12% to 28.9735.

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 more updates as the recent interest rate decisions and the upcoming BoE rate decision may change market dynamics.

_{Live Rates at about 06:02 AM are compared to the Last Close values to calculate the percentage differences. Image Courtesy: jannoon028 on freepik}