Financial Markets Daily

In the currency market

Euro: The euro rose for the fourth day in a row to close at $1.1874, up 0.41%. Technically, the initial resistance to the exchange rate upward is at 1.1915, further resistance is at 1.1960, and the key resistance is at 1.2011. Initial support for the lower exchange rate is at 1.1840, further support is at 1.1790 and more critical support is at 1.1700.

Sterling: rose for the second day in a row to close up 0.01% at $1.3147. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.3180, the further resistance is at 1.3270 and the key resistance is at 1.3360. The initial support is at 1.3080, further support is at 1.3000, and more critical support is at 1.2850.

Yen: Dollar/jPY fell for the third day in a row, closing down 0.11% at 103.36. Technically, the initial resistance to the exchange rate upward is at 104.25, further resistance is at 104.80, and the key resistance is at 105.15. Initial support for the lower exchange rate is at 103.10, further support is at 102.60, and more critical support is at 102.00.

The stock market

European stocks closed lower on Friday as investors awaited the outcome of the US election and reacted to a surge in confirmed coVID-19 cases and new restrictions on the continent. In Europe, the Stoxx 600 index closed 0.72 points, or 0.20 percent, lower at 366.40. Germany’s DAX30 index closed down 88.07 points, or 0.70%, at 12,480.02. The FTSE 100 index closed up 3.84 points, or 0.07%, at 5,910.02. The CAC-40 index in France closed 23.11 points, or 0.46%, lower at 4,960.88. In Europe, the Stoxx 50 index closed down 12.61 points, or 0.39%, at 3,202.95. Spain’s IBEX35 index closed down 52.30 points, or 0.77%, at 6,871.00. Italy’s FTSE MIB index closed down 49.70 points, or 0.25 per cent, at 19,681.68.

U.S. stocks closed lower on Friday as the results of the presidential election emerged. As the SPREAD of COVID-19 intensifies, and in the absence of additional supportive policies, the outlook for the US economy, which has shown signs of recovery, could turn around. At the close, the Dow Jones Industrial Average was down 66.80 points, or 0.24%, at 28323.40. The S&P 500 closed down 1.00 points, or 0.03 percent, at 3,509.44. The Nasdaq Composite index closed up 4.30 points, or 0.04%, at 11,985.23.

Commodity markets

Spot gold closed at $190.86 an ounce, up $1.59, or 0.08 percent, after hitting an intraday high of $190.31 and a low of $1935.49. For the week, spot gold closed up $72.07, or 3.84 percent.

Gold futures for December delivery on the COMEX rose 0.3 percent to $1951.70 an ounce after gaining 3.8 percent on the week, the biggest weekly gain in more than three months.

The cumulative COVID – 19 confirmed cases of 10 million cases, Europe to curb COVID – 19 infection surge in implementing the new round of closures sparked concern about the outlook for demand market, at the same time the market on the general election protracted vote counting is still uneasy, the uncertainty of the election led to the decrease of the future the possibility of massive fiscal stimulus measures, oil prices on Friday, November 6) continue to decline. U.S. WTI crude for December delivery ended down $1.65, or 4.25 percent, at $37.14 a barrel at press time, still up 3.77 percent for the week. Brent Crude for January delivery ended down $1.48, or 3.61 percent, at $39.45 a barrel. Earlier in the session, American Oil closed down 36 cents, or 0.92 percent, at $38.79 a barrel. Cloth oil closed down 30 cents, or 0.73 percent, at $40.93 a barrel.

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