Forex Newsletter: Mixed Start with Yen & Euro Gaining

London: 2 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a cautious and mixed start this morning, with Yen & Euro leading the pack in Forex, Asian markets declining, European & US indices awaiting direction, and Crude Oil, Gold, and Silver dipping. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: JPY (Up 0.04%) & EUR (Up 0.03%) gained while NZD (Down 0.2%) & CAD (Down 0.02%) declined against the USD.
• Asia-Pacific Dipped: Nikkei (JPN225) sank 0.96%, Hang Seng (HKG33) was down 1.04% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat and await direction at writing time.
• US Markets Flat: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) minute fluctuations.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 0.87%, WTI Crude (OIL) slipped 0.79%, yet Natural Gas (NATGAS) soared 1.22% today.
• Precious Metals Dipped: Gold (XAUUSD) slipped 0.29%, and Silver (XAGUSD) declined 1.6% today.

G10 Forex

JPY & EUR are Top Gainers

In the G10 FX Market, the significant surge of the Japanese Yen (JPY: Up 0.04%) and the Euro (EUR: Up 0.03%) against the dollar (USD) positions them as the top gainers today.

NZD & CAD are Top Laggers

The New Zealand Dollar (NZD: Down 0.2%) and the Canadian Dollar (CAD: Down 0.02%) are the top losers today, signaling potential shifts in the market.

Forex Daily Pivot Points

Understanding the significance of the Forex Daily Pivot Points is crucial for traders, as it provides a reference for potential market movements.

Global Indices

Asian Markets Down

In Asian equities, markets were trading weak today. The Nikkei (JPN225) was trading at 38707.0, down 0.96%. The Hang Seng (HKG33) was trading at 17687.5, down 1.04%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8410.1.
• France’s CAC 40 (FRA40) traded flat at 7648.1.
• Germany’s DAX 30 (GER30) traded flat at 18946.5.

US Equities Futures Edged Up

Looking at Equity Futures so far, the SP500 Futures was trading at 5645.25, up 0.04%.

Popular US Indices Almost Unchanged

• Standard & Poor’s 500 (SPX500) slightly dipped to 5642.75.
• Nasdaq (NAS100) narrowly dipped to 19540.648.
• Dow Jones Industrial Average (USA30) traded flat at 41556.

Energy Markets

Crude Oil Futures Mixed

In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 72.62, up 0.13%. The Brent Crude Futures was trading at 76.25, down 0.87%.

Spot Prices Mixed

• Brent Crude (UKOIL) declined 0.87% to $76.25 a barrel.
• WTI Crude (OIL) dipped 0.79% to $72.595 a barrel.
• Natural Gas (NATGAS) surged 1.22% to $2.288/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dipped 0.29% to 2496.0952.
• Silver (XAGUSD) plummeted 1.6% to 28.3925.

To Summarize

Today’s forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. Stay tuned for more updates as the trading day progresses.

_{Live Rates at about 06:00 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: pikisuperstar on Freepik}