Forex Newsletter: Downbeat Start with Yen & Dollar Surging

London: 3 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a downbeat start this morning, with JPY & USD leading the pack in Forex. However, Asian & US indices, Crude Oil, and Precious Metals declined. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY & USD gained while AUD (Down 0.13%) & NZD (Down 0.65%) declined against the USD.
• Asia-Pacific Dipped: Nikkei (JPN225) slipped 0.14%, and Hang Seng (HKG33) declined 0.67% today.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Down: S&P 500 (SPX500) slipped 0.2%, Nasdaq (NAS100) slipped 0.44%, and Dow Jones (USA30) also declined 0.13%.
• Energy Markets Mixed: While Brent Crude (UKOIL) and WTI Crude (OIL) have both dipped 0.18% & 0.26%, respectively, Natural Gas (NATGAS) has surged 0.19%, presenting a mixed picture in the energy markets today.
• Precious Metals Lost Shine: Gold (XAUUSD) and Silver (XAGUSD) both experienced significant declines of 0.4% and 0.62%, respectively, cautioning investors about the current market conditions.

G10 Forex

JPY & USD are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY) and the US Dollar (USD) are the top gainers today as they surged against the other major currencies.

AUD & NZD are Top Laggers

The Australian Dollar (AUD: Dipped 0.73%) and the New Zealand Dollar (NZD: Slipped 0.65%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Down

Asian Markets Dipped

In the Asian equities, markets were trading weaker today. The Nikkei (JPN225) was trading at 38673.5, down 0.14%. The Hang Seng (HKG33) was trading at 17582.0, down 0.67%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8380.1.
• France’s CAC 40 (FRA40) traded flat at 7658.4.
• Germany’s DAX 30 (GER30) traded flat at 18942.1.

US Equities Futures Slightly Edged Up

Looking at Equity Futures so far, the SP500 Futures was trading at 5644.8501, up 0.01%.

Popular US Indices Down

• Standard & Poor’s 500 (SPX500) dipped 0.2% to 5643.85.
• Nasdaq (NAS100) slipped 0.44% to 19518.5.
• The Dow Jones Industrial Average also declined 0.13% to (USA30) 41512.5.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 73.355, up 0.16%. The Brent Crude Futures was trading at 77.025, down 0.15%.

Spot Prices Mixed

• Brent Crude (UKOIL) declined 0.18% to $77.005 a barrel.
• WTI Crude (OIL) dipped 0.26% to $73.325 a barrel.
• Natural Gas (NATGAS) soared 0.19% to $2.319/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) dipped about 0.4% to 2494.855.
• Silver (XAGUSD) also slipped 0.62% to 28.3835.

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 financial markets mostly declined today. Yet, stay tuned for further updates as the trading day unfolds.

_{Live Rates at about 05:28 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}