Forex Newsletter: Positive Start with Yen & Aussie Gaining

London: 23 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a positive start. Yet, the US Dollar declined today, causing an upbeat momentum in commodities markets. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (Surged 0.45%) & AUD (Soared 0.26%) are top gainers, while CHF & USD are top laggers today.
• Asia-Pacific: Nikkei (JPN225) soared 0.3%, and Hang Seng (HKG33) surged 0.6%.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Optimistic: S&P 500 (SPX500) soared 0.26%, Nasdaq (NAS100) surged 0.38%, and Dow Jones (USA30) also edged up 0.16%.
• Energy Markets Heated Up: Brent Crude (UKOIL) picked up 0.11%, WTI Crude (OIL) edged up 0.09%, and Natural Gas (NATGAS) soared 0.65% today.
• Precious Metals Gained: Gold (XAUUSD) soared 0.41%, and Silver (XAGUSD) followed suit to surge 0.9% today.

G10 Forex

JPY & AUD are Top Gainers

In the G10 FX Market, Japanese Yen (JPY: up 0.45%) and Australian Dollar (AUD: up 0.26%) are the top gainers today versus the dollar (USD).

CHF & USD are Top Laggers

Swiss francs (CHF) and US dollars (USD) are the top losers as they declined against other major currencies.

Forex Daily Pivot Points

Global Indices Mostly Optimistic

Asian Markets Strengthened

In Asian equities, markets were trading stronger today. The Nikkei (JPN225) was trading at 38355.5, up 0.3%. The Hang Seng (HKG33) was trading at 17570.0, up 0.6%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8284.
• France’s CAC 40 (FRA40) traded flat at 7511.
• Germany’s DAX 30 (GER30) traded flat at 18467.45.

US Equities Futures Gained

Looking at Equity Futures so far, The SP500 Futures was trading at 5597.1499, up 0.16%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 0.26% to 5596.7.
• Nasdaq (NAS100) surged 0.38% to 19619.4.
• Dow Jones Industrial Average (USA30) edged up 0.16% to 40835.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 76.655, up 0.1%. The WTI Crude Futures was trading at 72.855, down 0.07%.

Spot Prices Surged

• Brent Crude (UKOIL) edged up 0.11% to $76.665 a barrel.
• WTI Crude (OIL) inched up 0.09% to $72.865 a barrel.
• Natural Gas (NATGAS) surged 0.65% to $2.2345/MMBtu.

Precious Metals Shone

• Gold (XAUUSD) soared 0.41% to 2494.94.
• Silver (XAGUSD) also surged 0.9% to 29.2435.

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 indicate an optimistic start. All eyes are on Fed Chair Powell’s speech at the Jackson Hole Economic Symposium. Stay tuned to check if the future Fed policy clues could change market dynamics later today.

_{Live Rates at about 05:30 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy:}