Financial Markets Daily

In the currency market

Euro: EurUSD fell for the fourth day in a row, closing down 0.64% at 1.1671. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.1737, further resistance is at 1.1802, and the key resistance is at 1.1846. Initial support for the lower exchange rate is at 1.1628, further support is at 1.1585, and more critical support is at 1.1520.

Sterling: Fell for the second day in a row, closing down 0.39% at 1.2932. Technically, the initial resistance to the exchange rate upward is at 1.3008, further resistance is at 1.3089, and key resistance is at 1.3153. The initial support is at 1.2864, further support is at 1.2799, and more critical support is at 1.2719.

Yen: The dollar gained for the first time in three days to 104.55 yen, up 0.23%. Technically, the initial resistance to the exchange rate upward is at 104.88, further resistance is at 105.15, and the key resistance is at 105.58. Initial support for the lower exchange rate is at 104.18, further support is at 103.75, and more critical support is at 103.47.

The stock market

London (Marketwatch) – European stock markets were mixed Thursday after volatile trading as investors digested fresh blockade measures from France and Germany and the latest policy decision from the European Central Bank. The Pan-European Stoxx 600 index closed 0.51 points, or 0.15 percent, lower at 341.66. Germany’s DAX30 index closed up 37.56 points, or 0.32%, at 11598.07. Britain’s FTSE 100 index closed down 1.05 points, or 0.02%, at 5,581.75; France’s CAC-40 index closed down 1.45 points, or 0.03 percent, at 4,569.67. In Europe, the Stoxx 50 index closed down 5.69 points, or 0.19%, at 2,957.85. Spain’s IBEX35 index closed down 60.40 points, or 0.93 percent, at 6414.00. Italy’s FTSE MIB index closed down 66.06 points, or 0.37%, at 17,831.73.

The dow Jones industrial Average fell more than 200 points in the early stages of trading on Thursday, but ended the day up more than 300 points after better-than-expected U.S. economic data helped buoy financial markets. Technology stocks were stronger, with Apple rebounding more than 4 percent and pushing the NASDAQ up more than 2 percent. At the close, the Dow Jones Industrial Average was up 139.30 points, or 0.53%, at 26659.24. The S&P 500 ended up 39.10 points, or 1.19%, at 3,310.10. The Nasdaq Composite index closed up 180.70 points, or 1.64%, at 11,185.59.

Commodity markets

Spot gold closed at $1,867.26 an ounce, down $9.72, or 0.52 percent, after hitting an intraday high of $1,884.788 and a low of $1,859.87 an ounce.

COMEX Gold futures for December delivery closed down 0.6 percent at $1,868.00 an ounce.

The spiraling number of confirmed cases in Europe and the US has led investors to expect a shift from economic recovery to a possible relapse into trouble. At the same time, the uncertainty of the November 3 U.S. presidential election also weighed on risk assets. The market is concerned that the results could be controversial for a long time, as states have changed their voting patterns drastically because of the public health crisis. Oil prices extended their losses on Thursday, with U.S. WTI crude for December delivery closed down $1.22, or 3.26 percent, at $36.17 a barrel at press time, after hitting an intraday low of $34.92. Brent crude for December delivery ended down $1.47, or 3.76 percent, at $37.65 a barrel. Earlier, IT plunged $2.18, or 5.51 percent, to $37.39 a barrel, its lowest level since Oct. 2. Cloth oil closed down $2.08, or 5.05 percent, at $39.12 a barrel.

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