Financial Markets Daily

In the currency market

Euro: The euro fell against the DOLLAR for the first time in four days, closing down 0.20% at 1.2118. Technically, the initial resistance to the exchange rate upward is at 1.2185, further resistance is at 1.2300, and the key resistance is at 1.2430. The initial support is at 1.2100, further support is at 1.2011, and more critical support is at 1.1860.

Sterling: Sterling turned lower against the DOLLAR, closing down 0.09% at 1.3437. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.3515, further resistance is at 1.3540 and key resistance is at 1.3610. Initial support for the lower exchange rate is at 1.3400, further support at 1.3310, and more critical support at 1.3290.

Yen: Usd/JPY turned higher, closing at 104.18, up 0.34%. On the technical front, the initial resistance to the upward movement of the exchange rate is at 104.50, the further resistance is at 104.90 and the key resistance is at 105.20. Initial support for the lower exchange rate is at 103.70, further support is at 103.30, and more critical support is at 103.00.

The stock market

The Dow Jones Industrial Average closed up 248.70 points, or 0.83%, at 30218.26. The S&P 500 closed up 32.40 points, or 0.88%, at 3,699.12. The Nasdaq Composite Index closed up 87.10 points, or 0.70%, at 12,464.23.

London (Marketwatch) – European stocks closed higher on Friday as investors closely watched the prospects for a U.S. economic stimulus package and a Trade deal with Britain leaving the European Union. The Pan-European Stoxx 600 index closed up 2.32 points, or 0.59%, at 394.04. Oil and gas shares led gains, rising 2.9 per cent, after Opec members agreed on Thursday to boost output by 500,000 barrels a day from January. Retail shares fell 0.5 per cent; Germany’s DAX30 index closed up 46.10 points, or 0.35%, at 13,298.96. Britain’s FTSE 100 index closed up 59.96 points, or 0.92%, at 6,550.23. The Cac-40 index in France closed up 34.79 points, or 0.62%, at 5,609.15. The Euro Stoxx 50 index closed up 21.25 points, or 0.60%, at 3,538.35. Spain’s IBEX35 index closed up 106.30 points, or 1.30%, at 8,307.00. Italy’s FTSE MIB index closed up 171.40 points, or 0.78%, at 22,178.80.

Commodity markets

Spot gold closed at $1,838.51 an ounce in late U.S. trading, down $1.99, or 0.09 percent, from an intraday high of $1,848.09 to a low of $1,830.09.

Two major crude oil futures extended this week’s gains on Friday. U.S. WTI crude for January delivery closed up 98 cents, or 2.16 percent, at $46.26 a barrel at press time. Brent crude for February delivery ended up $1, or 2.07 percent, at $49.25 a barrel after hitting an intraday high of $49.92. For the week, U.S. oil finished up 1.60 percent and U.S. oil finished up 0.95 percent.

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