Financial Markets Daily

In the currency market

Euro: The euro fell against the dollar for a second day, closing down 0.12% at $1.1795. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.1825, the further resistance is at 1.1855 and the key resistance is at 1.1871. The initial support is at 1.1778, further support is at 1.1762, and more critical support is at 1.1732.

Sterling: gained for the first time in four days to end at 1.3043, up 0.17%. Technically, the initial resistance to the exchange rate upward is at 1.3081, further resistance is at 1.3120, and key resistance is at 1.3160. The initial support is at 1.3003, further support is at 1.2962, and more critical support is at 1.2924.

Yen: Usd/JPY turned lower to close at 104.37, down 0.41%. On the technical front, the initial resistance to the upward movement of the exchange rate is at 104.71, the further resistance is at 105.06 and the key resistance is at 105.23. Initial support for the lower exchange rate is at 104.20, further support is at 104.02, and more critical support is at 103.68.

The stock market

The White House gave up hopes of a stimulus bill before the election and predicted a deal would be weeks away. The dow Jones Industrial Average closed down 222.20 points, or 0.80%, at 27463.19. The S&P 500 closed down 10.30 points, or 0.30%, at 3,390.69. The Nasdaq Composite index closed up 72.40 points, or 0.64%, at 11,431.35.

London (Marketwatch) – European markets extended losses on Tuesday as investors continued to focus on the rapid spread of coVID-19 across the continent and digested another round of major corporate earnings. The Pan-European Stoxx 600 index closed down 3.37 points, or 0.95%, at 352.58. Germany’s DAX30 index ended down 113.61 points, or 0.93%, at 12,063.57. Britain’s FTSE 100 index closed down 63.02 points, or 1.09%, at 5,728.99. France’s CAC40 index closed down 85.46 points, or 1.77 percent, at 4,730.66. In Europe, the Stoxx 50 index closed down 34.30 points, or 1.10%, at 3,070.95. Spain’s IBEX35 index closed down 149.90 points, or 2.21%, at 6,647.00. Italy’s FTSE MIB index closed down 290.19 points, or 1.53%, at 18,654.95.

Commodity markets

Spot gold closed at $1,907.24 an ounce, up $5.64, or 0.30 percent, after hitting an intraday high of $1,911.00 and a low of $1,987.31.

Gold futures for December delivery on the COMEX rose 0.3 percent to $1,911.90 an ounce in late afternoon trading.

Oil prices rebounded on Tuesday from steep declines in the previous session as new Hurricane Zeta struck the Gulf of Mexico and the US announced new sanctions against Iran. But a surge in global coVID-19 cases has undermined the outlook for crude oil demand, while supply is climbing and sentiment remains gloomy, further limiting oil’s upside. U.S. WTI crude for December delivery closed up $1.01, or 2.62 percent, at $39.57 a barrel at press time. Brent crude for December delivery closed up 74 cents, or 1.83 percent, at $41.20 a barrel. In the previous session, the two major crude oil futures suffered a sharp drop. American Oil closed down $1.29, or 3.24 percent, at $38.56 a barrel, its lowest level in three weeks. Cloth oil closed down $1.31, or 3.13 percent, at $40.46 a barrel.

Leave a Reply

Your email address will not be published. Required fields are marked *