Forex Newsletter: Mixed Start with Dollar & Aussie Soaring

London: 28 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start, with Greenback & Aussie leading the pack in Forex, mixed signals across Asia-Pacific markets, Europe & US almost unchanged, and modest declines in Crude Oil, Gold, and Silver prices. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: USD & AUD gained while EUR (Down 0.32%) & NOK (Down 0.31%) declined against the USD today.
• Asia-Pacific Mixed: Nikkei (JPN225) soared 0.17%, and Hang Seng (HKG33) dipped 1.01% today.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Almost Unchanged: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) traded flat.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.43%, WTI Crude (OIL) slipped 0.57%, yet Natural Gas (NATGAS) soared 1.04% today.
• Precious Metals Down: Gold (XAUUSD) dipped 0.62%, and Silver (XAGUSD) plummeted 1.21% today.

G10 Forex

USD & AUD are Top Gainers

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

EUR & NOK are Top Laggers

The Euro (EUR: Dipped 0.32%) and Norwegian Krone (NOK: Slipped 0.31%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 38295.5, up 0.17%. The Hang Seng (HKG33) was trading at 17675.0, down 1.01%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8358.
• France’s CAC 40 (FRA40) traded flat at 7578.75.
• Germany’s DAX 30 (GER30) traded flat at 18704.1.

US Equities Futures Edged Up

Looking at Equity Futures so far,The SP500 Futures was trading at 5631.25, up 0.14%.

Popular US Indices Almost Flat

• Standard & Poor’s 500 (SPX500) slightly edged up to 5631.25.
• Nasdaq (NAS100) was almost flat at 19573.148.
• Dow Jones Industrial Average (USA30) slightly edged up to 41301.5.

Energy Markets

Crude Oil Futures Dipped

In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 78.625, down 0.34%. The WTI Crude Futures was trading at 75.1, down 0.36%.

Spot Prices Mixed

• Brent Crude (UKOIL) declined 0.43% to $78.55 a barrel.
• WTI Crude (OIL) slipped 0.57% to $75.025 a barrel.
• Natural Gas (NATGAS) surged 1.04% to $2.1875/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) dipped 0.62% to 2509.1099.
• Silver (XAGUSD) declined 1.21% to 29.6165.

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 indicate mixed signals this morning as the market awaits significant economic data from Europe, the US, and Australia this week. Stay tuned for more updates as the trading day unfolds.

_{Live Rates at about 05:37 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}