Forex Newsletter: Downbeat Start with USD & EUR Soaring

London: 2 July 2024 (TraderMade): Welcome to today's FX Newsletter! The global financial markets present a downbeat picture this morning. Let's take you through the sector-wise details to elaborate more on the status of various financial instruments:

Key Takeaways

• Forex: USD & EUR gained, while NZD (Down 0.35%) & AUD (Down 0.27%) lagged versus the USD.
• Asia-Pacific Mixed: Nikkei (JPN225) soared 1.28%, Hang Seng (HKG33) traded flat.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were unchanged at writing time.
• US Markets Down: S&P 500 (SPX500) and Dow Jones (USA30) slightly dipped, and Nasdaq (NAS100) declined 0.15%.
• Energy Markets Dipped: Brent Crude (UKOIL) slipped 0.14%, WTI Crude (OIL) dipped 0.07%, and Natural Gas (NATGAS) declined 0.4% today.
• Precious Metals Declined: Gold (XAUUSD) slipped 0.08%, and Silver (XAGUSD) declined 0.29% today.

G10 Forex

USD & EUR are Top Gainers

In the G10 FX Market, the US Dollar (USD) and Euro (EUR) are today's top gainers, as they surged against the other major currencies.

NZD & AUD are Top Laggers

The New Zealand Dollar (NZD: Dipped 0.35%) and the Australian Dollar (AUD: Slipped 0.27%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Declined

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 40036.5, up 1.28%, while the Hang Seng (HKG33) was trading flat at 17782.0.

European Indices Flat

The UK's FTSE 100 (UK100) trades flat at 8164.4. France's CAC 40 (FRA40) trades flat at 7585.4. Germany's DAX 30 (GER30) trades flat at 18330.

US Equities Futures Slightly Dipped

Looking at Equity Futures, The SP500 Futures was trading at 5469.5498, down 0.12%.

Popular US Indices Dipped

• Standard & Poor's 500 (SPX500) slightly dipped to 5474.15.
• Nasdaq (NAS100) slipped 0.15% to 19796.9.
• Dow Jones Industrial Average (USA30) narrowly slipped to 39180.

Energy Markets Cautious

Crude Oil Futures Strengthened

In the energy space, the oil futures trade is more robust today. The Brent Crude Futures were trading at 86.63, up 0.16%, and the WTI Crude Futures were trading at 82.985, up 0.13%.

Spot Prices Declined

• Brent Crude (UKOIL) soared 0.14% to $86.615 a barrel.
• WTI Crude (OIL) slightly increased by 0.07% to $82.965 a barrel.
• Natural Gas (NATGAS) dipped 0.4% to $2.4735/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) dipped 0.08% to 2330.01.
• Silver (XAGUSD) declined 0.29% to 29.3655.

To Summarize

Today's forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. Though the statistics this morning showcase a downbeat picture for stock indices and commodities across the globe, please stay tuned for the latest updates as the trading day unfolds.

_{Live Rates taken at about 05:44 AM GMT are compared to Last Close values to calculate percentage changes. Image Courtesy: Karolina Kaboompics on Pexels}