Forex Newsletter: Mixed Signals with NZD & SEK Surging

London: 13 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets show a mixed start this morning as Kiwi and Swedish Krona led the pack in Forex. Though Asian & US indices look optimistic, Energy and Metals Markets seem cautious at this stage. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: NZD (Up 0.23%) & SEK (Up 0.16%); Top Laggers: JPY (Down 0.3%) & CHF (Down 0.22%) vs USD.
• Asia-Pacific Soared: Nikkei (JPN225) surged 1.1%, and Hang Seng (HKG33) edged up by 0.25% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Edged Up: S&P 500 (SPX500) soared 0.2%, Nasdaq (NAS100) surged 0.33%, and Dow Jones (USA30) also picked up 0.16%.
• Energy Markets Slipped: Brent Crude (UKOIL) was down 0.25%, WTI Crude (OIL) dipped 0.22%, and Natural Gas (NATGAS) also dipped 0.11% today.
• Precious Metals Declined: Gold (XAUUSD) dipped 0.47%, and Silver (XAGUSD) also slipped 0.89% today.

G10 Forex

NZD & SEK are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD: up 0.23%) and Swedish Krona (SEK: up 0.16%) are the top gainers today compared to the dollar (USD).

JPY & CHF are Top Laggers

The Japanese Yen (JPY: Dipped 0.3%) and Swiss francs (CHF: Slipped 0.22%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Optimistic

Asian Markets Surged

Today, Asian equities markets are stronger. The Nikkei (JPN225) was trading at 36004.0, up 1.1%, and the Hang Seng (HKG33) was trading at 17158.0, up 0.25%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8217.1.
• France’s CAC 40 (FRA40) traded flat at 7246.8.
• Germany’s DAX 30 (GER30) traded flat at 17704.4.

US Equities Futures Inched Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5359.0498, up 0.15%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 0.2% to 5357.15.
• Nasdaq (NAS100) surged 0.33% to 18604.7.
• Dow Jones Industrial Average (USA30) also edged up 0.16% to 39458.

Energy Markets Dipped

Crude Oil Futures Declined

In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures were trading at 78.02, down 0.1%, and the Brent Crude Futures were trading at 81.235, down 0.33%.

Spot Prices Down

• Brent Crude (UKOIL) dipped 0.25% to $81.3 a barrel.
• WTI Crude (OIL) slipped 0.22% to $78.09 a barrel.
• Natural Gas (NATGAS) also dipped 0.11% to $2.2745/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) declined 0.47% to 2460.655.
• Silver (XAGUSD) plummeted 0.89% to 27.708.

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 financial markets show mixed signals today. The UK unemployment data and the US PPI index released today may affect the market dynamics. Please stay tuned for the latest financial news as the trading day progresses.

_{Live Rates at about 05:08 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: standret on Freepik}