Forex Newsletter: Cautious Start with Aussie & Kiwi Soaring

London: 12 July 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a cautious beginning, with commodity-based currencies like Aussie and Kiwi leading the pack in Forex. Let’s take you through the sector-wise updates to help you understand the status of various financial instruments:

Key Takeaways

• Forex: AUD (Up 0.13%) & NZD (Up 0.09%) Soared while SEK (Down 0.19%) & NOK (Down 0.12%) Dipped against the USD.
• Asia-Pacific: Nikkei (JPN225) dipped 1.08%, and Hang Seng (HKG33) surged 1.73%.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were broadly unchanged.
• US Markets Broadly Unchanged: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) traded almost flat with less than 0.1% fluctuations.
• Energy Markets Cautious: Brent Crude (UKOIL) and WTI Crude (OIL) dipped 0.07% while Natural Gas (NATGAS) slightly edged up.
• Precious Metals Down: Gold (XAUUSD) slipped 0.34%, and Silver (XAGUSD) declined 1.39% today.

G10 Forex

AUD & NZD are Top Gainers

In the G10 FX Market, the Australian Dollar (AUD: Gained 0.13%) and New Zealand Dollar (NZD: Soared 0.09%) are the top gainers today versus the dollar (USD).

SEK & NOK are Top Laggers

Swedish Krona (SEK: Dipped 0.19%) and Norwegian Krone (NOK: Slipped 0.12%) 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 41226.5, down 1.08%. The Hang Seng (HKG33) was trading at 18235.5, up 1.73%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8221.5.
• France’s CAC 40 (FRA40) traded flat at 7622.6.
• Germany’s DAX 30 (GER30) traded flat at 18511.

US Equities Futures Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5593.4004, up 0.03%.

Popular US Indices Mixed

• Standard & Poor’s 500 (SPX500) narrowly edged up to 5594.9004.
• Nasdaq (NAS100) traded almost flat at 20230.
• Dow Jones Industrial Average (USA30) slightly surged by 0.08% to 39866.

Energy Markets

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weak today. The Brent Crude Futures were trading at 84.975, down 0.15%, and the WTI Crude Futures were trading at 81.715, down 0.18%.

Spot Prices Cautious

• Brent Crude (UKOIL) dipped 0.07% to $85.04 a barrel.
• WTI Crude (OIL) dipped 0.07% to $81.775 a barrel.
• Natural Gas (NATGAS) slightly edged up to $2.2795/MMBtu.

Precious Metals Slipped

• Gold (XAUUSD) slipped 0.34% to 2407.135.
• Silver (XAGUSD) plummeted 1.39% to 31.0215.

To Summarize

Today’s forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. As the trading day unfolds, we will keep you updated with the latest events in the financial world. Stay tuned!

_{Live Rates are compared to the Last Close values to calculate the percentage changes. Image Courtesy: pvproductions on Freepik}