Forex Newsletter: Mixed Bag with AUD & SEK Soaring

London: 8 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed morning, as the Aussie and Swedish Krona surged in Forex, Asian & US indices picked up, yet the Energy market was dipping, while metals show mixed signals. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: AUD (Up 0.55%) & SEK (Up 0.34%); Top Laggers: USD & GBP.
• Asia-Pacific Up: Nikkei (JPN225) soared , Hang Seng (HKG33)
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Optimistic: S&P 500 (SPX500) picked up by 0.47%, Nasdaq (NAS100) was up 0.77%, and Dow Jones (USA30) soared 0.34%.
• Energy Markets Down: Brent Crude (UKOIL) and WTI Crude (OIL) slipped 0.12%, and Natural Gas (NATGAS) also declined 0.28% today.
• Precious Metals Mixed: Gold (XAUUSD) slipped 0.43%, and Silver (XAGUSD) soared 1.17% today.

G10 Forex

AUD & SEK are Top Gainers

In the G10 FX Market, the Australian Dollar (AUD: Surged 0.55%) and Swedish Krona (SEK: Soared 0.34%) are the top gainers today versus the dollar (USD).

USD & GBP are Top Laggers

The US Dollar (USD) and British Pound (GBP) are the top losers today as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Soared

Today, Asian equities markets are stronger. The Nikkei 225 was trading at 34883.5, up 1.62%, and the Hang Seng was trading at 16975.0, up 1.39%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8108.3.
• France’s CAC 40 (FRA40) traded flat at 7183.3.
• Germany’s DAX 30 (GER30) traded flat at 17428.8.

US Equities Futures Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5202.3501, up 0.48%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 0.47% to 5200.45.
• Nasdaq (NAS100) surged 0.77% to 17895.8.
• Dow Jones Industrial Average (USA30) followed suit to edge up by 0.34% to 38795.5.

Energy Markets Down

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weak today. The WTI Crude Futures were trading at 74.54, down 0.13%, and the Brent Crude Futures were trading at 78.12, down 0.17%.

Spot Prices Dipped

• Brent Crude (UKOIL) slipped 0.12% to $78.155 a barrel.
• WTI Crude (OIL) dipped 0.12% to $74.58 a barrel.
• Natural Gas (NATGAS) declined 0.28% to $2.1705/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) dipped 0.43% to 2393.335.
• Silver (XAGUSD) surged 1.17% to 26.9185.

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 showcase mixed signals today. However, as it is the beginning, please stay tuned for the latest updates as the trading day unfolds.

_{Live Rates at about 05:20 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: jannoon028 on Freepik}