Forex Newsletter: Positive Beginning with NOK & CHF Soaring

London: 31 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate an optimistic start this morning. While NOK & CHF led the pack in Forex, Asian, and US indices, Energy and Metals markets made modest gains. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers NOK (Up 0.19%) & CHF (Up 0.11%); Top Laggers: AUD (Down 0.84%) & JPY (Down 0.13%).
• Asia-Pacific Soared: Nikkei (JPN225) surged 1.39%, Hang Seng (HKG33) also edged up 2.38% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Optimistic: S&P 500 (SPX500) soared 1.08%, Nasdaq (NAS100) edged up 1.8%, and Dow Jones (USA30) also soared 0.5% today.
• Energy Markets Gained: Brent Crude (UKOIL) edged up 1.17%, WTI Crude (OIL) soared 1.09%, and Natural Gas (NATGAS) surged 1.02%.
• Precious Metals Shone: Gold (XAUUSD) surged 0.3%, and Silver (XAGUSD) soared 0.74% today.

G10 Forex

NOK & CHF are Top Gainers

In the G10 FX Market, Norwegian Krone (NOK: up 0.19%) and Swiss francs (CHF: up 0.11%) are the top gainers today versus the dollar (USD).

AUD & JPY are Top Laggers

The Australian Dollar (AUD: Declined 0.84%) and Japanese Yen (JPY: Dipped 0.13%) are the top losers versus the dollar (USD).

Global Indices Mostly Positive

Asian Markets Soared

Today, Asian equities markets are stronger. The Nikkei (JPN225) was trading at 38608.5, up 1.39%, and the Hang Seng (HKG33) was trading at 17365.0, up 2.38%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8284.1.
• France’s CAC 40 (FRA40) traded flat at 7472.3.
• Germany’s DAX 30 (GER30) traded flat at 18398.1.

US Equities Futures Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5464.9502, up 0.29%.

Popular US Indices Positive

• Standard & Poor’s 500 (SPX500) soared 1.08% to 5481.35.
• Nasdaq (NAS100) surged 1.8% to 19085.3.
• Dow Jones Industrial Average (USA30) followed suit to gain 0.5% to 40816.

Energy Markets Surged

Crude Oil Futures Up

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 79.315, up 1.1%. The WTI Crude Futures was trading at 75.65, up 1.06%.

Spot Prices Gained

• Brent Crude (UKOIL) soared 1.17% to $79.37 a barrel.
• WTI Crude (OIL) surged 1.09% to $75.69 a barrel.
• Natural Gas (NATGAS) also soared 1.02% to $2.18/MMBtu.

Precious Metals Gained Glimmer

• Gold (XAUUSD) soared 0.3% to 2418.29.
• Silver (XAGUSD) surged 0.74% to 28.5975.

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 markets indicate a positive start, yet the crucial interest decisions may affect the market dynamics. So, stay tuned for the latest updates as the trading day progresses.

_{Live Rates at about 05:49 AM GMT are compared to the Last Close values to calculate the percentage differences. Image Courtesy: freepik}