Forex Newsletter: Cautious Start with AUD & JPY Soaring

London: 4 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets display a cautious beginning. AUD & JPY soared against the USD; Global Indices mixed; Crude Oil dipped; Natural Gas soared; Silver dropped significantly. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: AUD & JPY surged 0.12% each, NOK (Dipped 0.05%) & EUR (Slipped 0.01%) versus the USD today.
• Asia-Pacific Mixed: Nikkei (JPN225) soared 0.57%, Hang Seng (HKG33) dipped 0.77%.
• European Indices Slipped: FTSE (UK100) and CAC (FRA40) declined by about 0.1%, while DAX (GER30) also slightly dipped at writing time.
• US Markets Flat: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) remained almost unchanged.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.28%, WTI Crude (OIL) slipped 0.32%, yet Natural Gas (NATGAS) surged 0.51% today.
• Precious Metals Mixed: Gold (XAUUSD) slightly edged up however, Silver (XAGUSD) declined 0.47% today.

G10 Forex

AUD & JPY are Top Gainers

In the G10 FX Market, the Australian Dollar (AUD: Gained 0.12%) and Japanese Yen (JPY: Soared 0.12%) are the top gainers today versus the dollar (USD).

NOK & EUR are Top Laggers

Norwegian Krone (NOK: Dipped 0.05%) and Euro (EUR: Slipped 0.01%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 40972.5, up 0.57%. The Hang Seng (HKG33) was trading at 17954.0, down 0.77%.

European Indices Flat

• The UK’s FTSE 100 (UK100) dipped 0.09% to 8187.2.
• France’s CAC 40 (FRA40) slipped 0.08% to 7654.25.
• Germany’s DAX 30 (GER30) slightly dipped to 18408.352.

US Equities Futures Slightly Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5540.3501, up 0.01%.

Popular US Indices Almost Unchanged

• Standard & Poor’s 500 (SPX500) traded flat at 5540.15.
• Nasdaq (NAS100) traded flat at 20199.2.
• Dow Jones Industrial Average (USA30) slightly soared by 0.03% to 39361.

Energy Markets

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 86.565, down -0.32%. The WTI Crude Futures was trading at 82.835, down 0.37%.

Spot Prices Mixed

• Brent Crude (UKOIL) dipped 0.28% to $86.595 a barrel.
• WTI Crude (OIL) declined 0.32% to $82.86 a barrel.
• Natural Gas (NATGAS) surged 0.51% to $2.4455/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) slightly edged up to 2357.025.
• Silver (XAGUSD) dipped 0.47% to 30.3665.

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 show a cautious start today. As this is the beginning, stay tuned for the latest updates as the trading day unfolds.

_{Live Rates at about 06:00 AM GMT are compared to Last Close Values to calculate percentage differences. Image Courtesy: Freepik}