Financial Markets Daily

In the currency market

Euro: EurUSD rose for the second day in a row to close at 1.2117, up 0.41%. Technically, the initial resistance to the exchange rate upward is at 1.2139, further resistance is at 1.2168, and the key resistance is at 1.2218. Initial support for the lower exchange rate is at 1.2061, further support is at 1.2011, and more critical support is at 1.1982.

Sterling: The pound fell against the DOLLAR for the first time in three days, closing down 0.38 per cent at 1.3369. Technically, the initial resistance is at 1.3437, further resistance is at 1.3516, and the key resistance is at 1.3591. Initial support for the lower exchange rate is at 1.3284, further support is at 1.3209 and more critical support is at 1.3131.

Yen: USDJPY gained, or 0.12%, to close at 104.41. Technically, the initial resistance to the exchange rate upward is at 104.69, further resistance is at 104.98, and the key resistance is at 105.22. Initial support for the lower exchange rate is at 104.17, further support is at 103.93, and more critical support is at 103.64.

The stock market

ADP said U.S. private employers added 307,000 jobs in November, below market expectations. With COVID-19 infections surging in the United States and the recovery in employment slowing, the outlook seems less clear. New York (Ap) — U.S. stocks were mixed Wednesday, with the Dow Jones Industrial Average up 59.90 points, or 0.20%, at 29,883.79. The S&P 500 index closed up 6.60 points, or 0.18%, at 3,669.00. The Nasdaq Composite index closed down 5.70 points, or 0.05%, at 12,349.37.

London (Marketwatch) – European stocks closed mostly lower on Wednesday, but the FTSE 100 got a boost after news that the country had approved the novel Coronavirus vaccine. In Europe, the Stoxx 600 index fell 0.21 points, or 0.05 percent, to 391.69. Germany’s DAX30 index closed down 69.06 points, or 0.52%, at 13,313.24. The FTSE 100 index closed up 78.66 points, or 1.23%, at 6,463.39. The CAC-40 index in France closed up 1.37 points, or 0.03%, at 5,5583.01. In Europe, the Stoxx 50 index closed down 5.39 points, or 0.15%, at 3,519.85. Spain’s IBEX35 index closed up 78.20 points, or 0.96 percent, at 8219.00. Italy’s FTSE MIB index closed down 127.72 points, or 0.58%, at 2,1972.20.

Commodity markets

In late U.S. trade, spot gold closed at $1,830.71 an ounce, up 15.72 dollars, or 0.87 percent, after hitting its highest level since November 24 at $1,832.52 an ounce and as low as $1,806.80.

Us gold futures settled 0.6 per cent higher at $1,830.20 an ounce.

Opec + has made progress on a deal to cut output, the first positive sign following the failure of talks earlier this week. Key members Russia, Saudi Arabia, and the United Arab Emirates have held direct talks over the past few days, according to representatives, and details of any potential compromises remain unclear, and it is impossible to predict whether this progress will eventually translate into an agreement to cut production. Crude oil futures rebounded Wednesday from losses in the previous session. U.S. WTI crude for January delivery closed up 73 cents, or 1.64 percent, at $45.28 a barrel at press time. Brent crude for February delivery ended up 83 cents, or 1.75 percent, at $48.25 a barrel. Earlier in the session, American Oil closed down 79 cents, or 1.74 percent, at $44.55 a barrel. Cloth oil closed down 17 cents, or 0.36 percent, at $47.42 a barrel.

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