In the currency market
Euro: The euro rose for the third day in a row to close at $1.1829, up 0.91 percent. Technically, the initial resistance to the upward movement of the exchange rate is at 1.1887, further resistance is at 1.1947, and key resistance is at 1.2036. The initial support is at 1.1738, further support is at 1.1650, and more critical support is at 1.1589.
Sterling: Sterling turned higher against the DOLLAR, closing up 1.29% at 1.3150. On the technical front, the initial resistance to the upside is at 1.3226, further resistance is at 1.3302 and key resistance is at 1.3450. The initial support is at 1.3002, further support is at 1.2854, and more critical support is at 1.2778.
Yen: Dollar/jPY fell for the third day in a row, closing down 0.95% at 103.52. Technically, the initial resistance to the exchange rate upward is at 104.22, further resistance is at 104.93, and the key resistance is at 105.33. Initial support for the lower exchange rate is at 103.12, further support is at 102.72, and more critical support is at 102.01.
The stock market
New York (Ap) — The U.S. stock market opened higher on Thursday, with the Dow Jones Industrial Average rising more than 600 points and technology stocks showing relative strength as the presidential election enters its final stages and the market hopes the election outcome will help calm financial markets. At the close, the Dow Jones Industrial Average rose 542.58 points, or 1.95%, to 28390.24. The S&P 500 ended up 67.36 points, or 1.96 percent, at 3,510.80. The Nasdaq Composite index closed up 300.15 points, or 2.59%, at 11,890.93. Major indexes are on track for their biggest weekly gains since April: the Dow is up 7.1% so far this week, the S&P is up 7.4% and the Nasdaq is up 9%.
London (Marketwatch) – European stocks closed higher Thursday as the Bank of England kept interest rates on track and investors watched vote counts in key U.S. election states. The Pan-European Stoxx 600 index closed up 3.81 points, or 1.05 percent, at 367.12. Germany’s DAX30 index closed up 243.87 points, or 1.98%, at 12,568.09. Britain’s FTSE 100 closed up 22.92 points, or 0.39%, at 5,906.18. The CAC-40 index in France closed up 61.14 points, or 1.24%, at 4,983.99. The Stoxx 50 index in Europe closed up 55.28 points, or 1.75 percent, at 3,216.35. Spain’s IBEX35 index closed up 140.10 points, or 2.07 percent, at 6,922.00. Italy’s FTSE MIB index closed up 373.10 points, or 1.93%, at 19,731.38.
Spot gold closed at $1948.71 an ounce, up $45.80, or 2.41 percent, after hitting an intraday high of $19,52.68 an ounce since September 21 and a low of $1,902.39.
Gold for December delivery on the COMEX rose 2.7 percent to $1,946.80 an ounce.
Oil prices ended lower on Thursday, ending three days of gains, as democratic Joe Biden’s chances of winning the presidency and Republicans holding on to the Senate rose, reducing the chances of a massive coVID-19 bailout. U.S. WTI crude for December delivery ended down 36 cents, or 0.92 percent, at $38.79 a barrel at press time. Brent crude for January delivery ended down 30 cents, or 0.73 percent, at $40.93 a barrel. In the previous session, U.S. Oil closed up $1.49, or 3.95 percent, at $39.15 a barrel. Cloth oil closed up $1.52, or 3.83 percent, at $41.23 a barrel.