In the currency market
Euro: The euro rose for the first time in seven days to close at $1.1627, up 0.70%. On the technical front, the initial resistance to the exchange rate upward is at 1.1763, further resistance is at 1.1808, and the key resistance is at 1.1876. Initial support for the lower exchange rate is at 1.1583, further support is at 1.1539, and more critical support is at 1.1500.
Sterling: Sterling turned higher against the DOLLAR, closing up 1.15% at 1.3066. Technically, the initial resistance to the exchange rate upward is at 1.3125, further resistance is at 1.3187 and key resistance is at 1.3297. The initial support is at 1.2954, further support is at 1.2845, and more critical support is at 1.2782.
Yen: The dollar fell against the yen for the first time in four days, closing down 0.22% at 104.51. Technically, the initial resistance to the exchange rate upward is at 104.72, further resistance is at 104.94, and the key resistance is at 105.08. Initial support for the lower exchange rate is at 104.35, further support is at 104.20, and more critical support is at 103.98.
The stock market
The Dow Jones Industrial Average soared 700 points after opening nearly 300 points higher on Tuesday as the US presidential election officially kicked off in anticipation of bigger rescue packages and infrastructure spending. The Dow Jones Industrial Average closed up 555.00 points, or 2.06 percent, at 27,480.03. The S&P 500 ended up 58.90, or 1.78%, at 3,369.16. The Nasdaq Composite index closed up 203.00, or 1.85%, at 11,160.57.
London (Marketwatch) – European stocks closed higher on Tuesday as markets held their breath ahead of the U.S. presidential election. The Stoxx 600 index in Europe closed up 8.15 points, or 2.34%, at 356.01. Germany’s DAX30 index closed up 300.70 points, or 2.55%, at 12088.98. Britain’s FTSE 100 index closed up 131.80 points, or 2.33%, at 5,786.77. The CAC-40 index in France closed up 114.47 points, or 2.44%, at 4805.61. The Stoxx 50 index in Europe closed up 79.91 points, or 2.65%, at 3,099.45. Spain’s IBEX35 index closed up 163.40 points, or 2.48%, at 6,749.00. Italy’s FTSE MIB index closed up 586.21 points, or 3.19%, at 18,986.24.
Spot gold closed at $1,909.09 an ounce, up $13.60, or 0.72 percent, after touching as high as $1,910.46 an ounce and as low as $1,886.91.
Gold futures for December delivery on the COMEX rose nearly 1.0 percent to close at $1,910.40 an ounce, the highest close in a recent week.
Oil prices extended gains on Tuesday as markets were buoyed by expectations that major producers would not increase output and traders braced themselves for potential turmoil during the US election. U.S. WTI crude for December delivery closed up 85 cents, or 2.31 percent, at $37.66 a barrel after hitting an intraday high of $38.32. Brent crude for January delivery closed up 74 cents, or 1.90 percent, at $39.71 a barrel after briefly rising above the $40 mark. Earlier, IT closed up $1.02, or 2.85 percent, at $36.81 a barrel. Cloth oil closed up $1.51, or 4.03 percent, at $38.97 a barrel.