Forex Newsletter: Mixed Start with CHF & USD Soaring

London: 14 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets show mixed signals this morning. CHF & US Dollar led the pack in Forex, global indices are mixed, Energy markets gained, yet Metals declined. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: CHF & USD; Top Laggers: NZD (Down 1.2%) & SEK (Down 0.16%) vs USD.
• Asia-Pacific Declined: Nikkei (JPN225) dipped 0.9%, and Hang Seng (HKG33) slipped 1.11% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Optimistic: S&P 500 (SPX500) edged up 0.13%, Nasdaq (NAS100) soared 0.09%, and Dow Jones (USA30) also picked up 0.14% today.
• Energy Markets Up: Brent Crude (UKOIL) edged up 0.31%, WTI Crude (OIL) soared 0.39%, and Natural Gas (NATGAS) surged 0.87% today.
• Precious Metals Declined: Gold (XAUUSD) dipped 0.2%, and Silver (XAGUSD) declined 0.52% today.

G10 Forex

CHF & USD are Top Gainers

In the G10 FX Market, Swiss francs (CHF) and the US Dollar (USD) are today's top gainers, as they gained against the other major currencies.

NZD & SEK are Top Laggers

The New Zealand Dollar (NZD: Dipped 1.2%) and Swedish Krona (SEK: Slipped 0.16%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Weaker

Today, Asian equities markets are weak. The Nikkei (JPN225) was trading at 36241.5, down 0.9%, and the Hang Seng (HKG33) was trading at 17087.0, down 1.11%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8256.551.
• France’s CAC 40 (FRA40) traded flat at 7299.1.
• Germany’s DAX 30 (GER30) traded flat at 17853.3.

US Equities Futures Slightly Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5436.9502, up 0.01%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 0.13% to 5440.45.
• Nasdaq (NAS100) edged up 0.09% to 19031.2.
• Dow Jones Industrial Average (USA30) surged 0.14% to 39830.

Energy Markets Positive

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 80.665, up 0.2%. The WTI Crude Futures was trading at 77.345, up 0.11%.

Spot Prices Soared

• Brent Crude (UKOIL) surged 0.31% to $80.755 a barrel.
• WTI Crude (OIL) soared 0.39% to $77.415 a barrel.
• Natural Gas (NATGAS) gained 0.87% to $2.2705/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dipped 0.2% to 2460.1704.
• Silver (XAGUSD) plummeted 0.52% to 27.706.

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 trading day unfolds.

_{Live Rates at about 05:48 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: rawpixel.com on Freepik}