Financial Markets Daily

In the currency market

Euro: The euro rose for the first time in three days to close at $1.1891, up 0.44%. Technically, the initial resistance to the upward movement of the exchange rate is at 1.1912, further resistance is at 1.1935, and the key resistance is at 1.1974. The initial support for the lower exchange rate is at 1.1849, further support is at 1.1810, and more critical support is at 1.1786.

Sterling: Rose for the third day in a row to close 0.30% higher at 1.3361. Technically, the initial resistance is at 1.3393, the further resistance is at 1.3430 and the key resistance is at 1.3481. The initial support is at 1.3304, the further support is at 1.3254, and the more critical support is at 1.3216.

Yen: The dollar fell against the yen for the first time in three days, closing down 0.08 percent at 104.43 yen. Technically, the initial resistance to the exchange rate upward is at 104.73, further resistance is at 105.05, and the key resistance is at 105.35. Initial support for the lower exchange rate is at 104.11, further support is at 103.81, and more critical support is at 103.49.

The stock market

The Dow Jones industrial Average (DJIA) opened higher on Tuesday, breaking through the psychological 30,000 mark for the first time in its history before extending its gains to more than 500 points, an all-time high, as uncertainty over the presidential election cooled and sparked a rally in U.S. stocks. At the close, the Dow Jones Industrial Average was up 455.00, or 1.54%, at 30046.24; The S&P 500 ended up 57.80 points, or 1.62%, at 3,635.44. The Nasdaq Composite index closed up 156.20 points, or 1.31%, at 12,036.79.

European stocks closed higher on Tuesday as hopes of an economic recovery were boosted by news of an imminent covid-19 vaccine and the U.S. General Services Administration sent a letter to Democrat Joe Biden informing him he could formally begin the transition. The Stoxx 600 index in Europe closed up 3.55 points, or 0.91 percent, at 392.39. Oil and gas stocks led the way, rising 4.3% and health care stocks bucked the trend, falling 0.7%. Germany’s DAX30 index closed up 165.47 points, or 1.26%, at 13,292.44. Britain’s FTSE 100 index closed up 98.33 points, or 1.55 per cent, at 6432.17. France’s CAC-40 index closed up 66.27 points, or 1.21%, at 5,5558.42. The Stoxx 50 index in Europe closed up 44.91 points, or 1.30%, at 3,507.95. Spain’s IBEX35 index closed up 157.80 points, or 1.98%, at 8,139.00. Italy’s FTSE MIB index closed up 443.27 points, or 2.04 per cent, at 22,145.06.

Commodity markets

Spot gold closed at $1,807.55 an ounce, down $29.49, or 1.61 percent, after touching as high as $1,838.96 an ounce and as low as $1,800.32.

COMEX gold futures for December delivery closed down 1.8 percent at $1,804.60 an ounce, the lowest close since mid-July and down 3.6 percent in the last two sessions.

Crude oil futures extended gains on Tuesday after nearly two weeks of news that an effective vaccine was on the way and as President Donald Trump eased uncertainty in financial markets by allowing officials to transition into an incoming Biden administration. U.S. WTI crude for January delivery closed up $1.85, or 4.29 percent, at $44.91 a barrel after hitting an intraday high of $45.20, its highest level since March. Brent crude for February delivery closed up $1.80, or 3.91 percent, at $47.86 a barrel. Earlier in the session, U.S. Oil closed up 64 cents, or 1.51 percent, at $43.06 a barrel. Cloth oil closed up $1.10, or 2.44 percent, at $46.06 a barrel.

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