Last session market review
The dollar index fell sharply below the 100 marks, closing down more than 1.5 percent. Spot gold closed up 0.86%; U.S. stocks rose for the third day in a row, with the dow up more than 1350 points, or 6.4 percent, and up 21.3 percent in three days, the best three-day winning streak since October 1931.
The rest of the day will focus on U.S. personal spending, the core PCE price index and the University of Michigan consumer sentiment index.
Fx: Eur/USD closed at 1.1030; The pound closed at 1.2200; The Australian dollar closed at 0.6064; The dollar closed at 109.57 yen; Us $1.4015; The dollar was last at 0.9630 Swiss francs.
Commodities: spot gold closed at $1,628.99 an ounce; Comex gold ended at $1,651.20 an ounce; Spot silver settled at $14.38 an ounce; Comex silver ended at $14.676 an ounce; Brent crude closed at $26.50 a barrel; NYMEX crude closed at $22.60 a barrel.
In the currency market
Euro: the dollar fell after a recent rally, with the euro closing higher for a fifth day, up 1.38 percent, at $1.1030. On the technical plane, the pivot point of the currency pair is at 1.0986, the initial resistance of the exchange rate upward is at 1.1102, the further resistance is at 1.1175, and the key resistance is at 1.1291. The initial support of the exchange rate down at 1.0914, further support at 1.0798, more critical support at 1.0725.
Sterling: the pound/dollar extended the previous session’s rally, breaking through the 1.22 mark to close up 2.75% at 1.2200. On the technical plane, the pivot point of the currency pair is 1.2069, the initial resistance to the exchange rate rise is 1.2360, the further resistance is 1.2521, and the more critical resistance is 1.2813. The initial support of the exchange rate down at 1.1908, further support at 1.1616, more critical support at 1.1456.
Yen: dollar/yen fell for the third day in a row, losing ground to close at 109.57, or 1.46%, at 111. On the technical plane, the pivot point of the currency pair is at 110.02, the initial resistance of the exchange rate upward is at 110.84, the further resistance is at 112.10, and the more critical resistance is at 112.92. The initial support for the fall in the exchange rate is at 108.75, further support at 107.94, more critical support at 106.67.
The stock market
U.S. and European stocks rose for a third straight day Thursday as investors digested news that a record number of people were cashing in cash early in the week of March 21, and the U.S. Senate passed a massive economic stimulus bill amid a new outbreak. The dow jones industrial average rose 1,351.62 points, or 6.4%, to 22,552.17. Over the past three days, the dow is up more than 20%. The s&p 500 also rose for the third day in a row, gaining 6.2% to 2,630.07. The NASDAQ composite index rose 5.6% to 7,797.54, with Facebook, Amazon, apple, Netflix and Google parent Alphabet all up more than 4%.
As a result of the new outbreak, initial claims in the us have surged to 3m, the highest number since 1982. European markets closed higher on Thursday. The pan-European stoxx 600 index closed up 1.8 percent, reversing earlier losses, with travel and leisure stocks up nearly 6 percent and auto shares falling slightly into negative territory. Germany’s DAX closed up 133.24 points, or 1.35 percent, at 1,0007.50. Britain’s ftse 100 closed up 118.80 points, or 2.09 percent, at 5,807.00. France’s cac-40 index closed up 111.29 points, or 2.51%, at 4,543.58. Spain’s IBEX35 index closed up 114.60 points, or 1.65 percent, at 7,057.00. Italy’s ftse closed up 148.32 points, or 0.86 percent, at 17,392.00. The stoxx Europe 50 index closed up 38.41 points, or 1.37%, at 2,838.55.
The bond market
Us Treasury yields held steady on Thursday as investors digested a surge in initial claims caused by a new outbreak. The yield on the benchmark 10-year Treasury note fell to about 0.80%, while the yield on the 30-year note also fell to 1.37%.
International spot gold Thursday morning opened at $1,615.38 an ounce, dipped as low as $1,595.94 and rose as high as $1,644.00 before closing at $1,628.99, up $13.83, or 0.86%.
COMEX gold futures for April delivery ended up $17.80, or 1.1 percent, at $1,651.20 an ounce after data showed U.S. jobless claims rose to a new weekly record of 3.283 million last week.
$2 trillion fiscal stimulus has failed to support President Trump (Donald Trump) to help troubled drillers to cope with the slump in oil prices and the use of the national petroleum reserve emergency plan, and the United States at the beginning of this number, please hit a record high since 1982, combined with Saudi Arabia between Russia and the price of crude oil production and still not showing signs of a cease-fire, the above factors make the price of crude oil pressure, oil prices fell almost 8% on Thursday (March 26). U.S. WTI crude for April delivery fell $1.89, or 7.7%, to $22.60 a barrel. Us WTI crude fell 29 percent last week, its biggest weekly drop since January 13, 1991, when it fell 29.5 percent. Brent may futures were down 89 cents, or 3.3 percent, at $26.50 a barrel. The price of Brent crude fell 25 percent last week.