Financial Markets Daily

In the currency market

Euro: The euro rose for the fourth day in a row to close at $1.1859, up 0.32%. On the technical side, the initial resistance to the upward movement of exchange rate is at 1.1853, further resistance is at 1.1913, and the key resistance is at 1.1946. The initial support is at 1.1826, further support is at 1.1793, and more critical support is at 1.1765.

Sterling: rose for the fourth day in a row to end 1.3142, up 1.51% against the DOLLAR. Technically, the initial resistance is at 1.3233, further resistance is at 1.3324, and the key resistance is at 1.3472. The initial support is at 1.2995, further support is at 1.2847, and more critical support is at 1.2756.

Yen: Usd/JPY turned lower, closing down 0.83% at 104.55. Technically, the initial resistance to the exchange rate upward is at 105.27, further resistance is at 105.99, and the key resistance is at 106.45. Initial support for the lower exchange rate is at 104.08, further support is at 103.62, and more critical support is at 102.90.

The stock market

New York (Ap) — U.S. stocks rose in intraday trading Wednesday as bipartisan bailout talks continued. Mr Trump also struck an optimistic note, saying he was willing to support a larger bailout if negotiations between Democrats and Republicans were successful. The Dow Jones Industrial Average closed down 98.00 points, or 0.35%, at 28210.82. The S&P 500 closed down 7.60 points, or 0.22%, at 3435.55. The Nasdaq Composite index closed down 31.80 points, or 0.28%, at 11484.69.

Madrid (Marketwatch) – European stocks closed lower Wednesday (Oct. 21) after investors closely watched an update on U.S. talks ona novel Coronavirus stimulus package. In Europe, the Stoxx 600 index closed down 4.72 points, or 1.29 percent, at 360.79. Travel and leisure stocks led the way, falling 2.5%. Germany’s DAX30 index closed down 179.31 points, or 1.41%, at 12,557.64. The FTSE 100 index closed down 112.72 points, or 1.91%, at 5,776.50. The CAC40 index in France closed down 75.33 points, or 1.53 percent, at 4,853.95. In Europe, the Stoxx 50 index closed down 46.42 points, or 1.44%, at 3,181.45. Spain’s IBEX35 index closed down 114.30 points, or 1.65%, at 6813.00. Italy’s FTSE MIB index closed down 396.18 points, or 2.03%, at 19,085.95.

Commodity markets

Spot gold closed at $1,923.35 an ounce, up $16.95, or 0.89 percent, after hitting an intraday high of $1,931.01 an ounce and a low of $1,907.44.

COMEX gold futures for December delivery closed up 0.7 percent at $1,929.50 an ounce.

Oil prices closed sharply lower on Wednesday as a worldwide surge in confirmed COVID-19 cases and an unexpected rise in US crude inventories added to fears of a global supply glut. U.S. WTI crude for December delivery ended down $1.67, or 4 percent, at $40.03 a barrel at press time. Brent crude for December delivery ended down $1.43, or 3.31 percent, at $41.73 a barrel. Earlier in the session, U.S. Oil closed up 64 cents, or 1.60 percent, at $41.70 a barrel. Cloth oil closed up 64 cents, or 1.27 percent, at $43.16 a barrel.

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