Forex Newsletter: Optimistic Start with NZD & AUD Soaring

London: 7 August 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a positive start this morning. Kiwi & Aussie led the pack in Forex; Asia-Pacific and US indices, energy, and metals markets gained. Here are the sector-wise updates:

Key Takeaways

• Forex: Top Gainers: NZD (Up 1.01%) & AUD (Up 0.6%); Top Laggers JPY (Dipped 2.15%) & CHF (Down 0.82%) vs USD.
• Asia-Pacific Surged: Nikkei (JPN225) soared 6.48% and Hang Seng (HKG33) edged up 2.09% today.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) were trading flat at writing time.
• US Markets Up: S&P 500 (SPX500) edged up 1.19%, Nasdaq (NAS100) soared 1.5%, and Dow Jones (USA30) also surged 0.92%.
• Energy Markets Optimistic: Brent Crude (UKOIL) edged up 0.39%, WTI Crude (OIL) soared 0.48%, and Natural Gas (NATGAS) also surged 0.89% today.
• Precious Metals Shone: Gold (XAUUSD) soared 0.13%, and Silver (XAGUSD) also surged 0.63% today.

G10 Forex

NZD & AUD are Top Gainers

The New Zealand Dollar (NZD: Soared 1.01%) and the Australian Dollar (AUD: Edged up 0.6%) are the top gainers today versus the dollar (USD).

JPY & CHF are Top Laggers

Japanese Yen (JPY: Declined 2.15%) and Swiss francs (CHF: Slipped 0.82%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Positive

Asian Markets Strengthened

Today, Asian equities markets are stronger. The Nikkei (JPN225) was trading at 35688.5, up 6.48%, and the Hang Seng (HKG33) was trading at 16966.0, up 2.09%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8071.8.
• France’s CAC 40 (FRA40) traded flat at 7151.7.
• Germany’s DAX 30 (GER30) also traded flat at 17380.8.

US Equities Futures Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5285.1499, up 1.29%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 1.19% to 5282.25.
• Nasdaq (NAS100) surged 1.5% to 18266.2.
• Dow Jones Industrial Average (USA30) followed suit to surge 0.92% to 39276.5.

Energy Markets Picked Up

Crude Oil Futures Soared

In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures were trading at 72.985, up 1.02%, and the Brent Crude Futures were trading at 76.695, up 0.62%.

Spot Prices Heated Up

• Brent Crude (UKOIL) soared 0.39% to $76.52 a barrel.
• WTI Crude (OIL) surged 0.48% to $72.81 a barrel.
• Natural Gas (NATGAS) also edged up 0.89% to $2.0955/MMBtu.

Precious Metals Gained

• Gold (XAUUSD) soared 0.13% to 2393.13.
• Silver (XAGUSD) surged 0.63% to 27.148.

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 soared this morning. Stay tuned as we bring the latest updates as the trading day unfolds.

_{Live Rates at about 05:41 AM GMT are compared to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}