Financial Markets Daily

In the currency market

Euro: The euro rose for the first time in five days to close at 1.2141, up 0.52 percent. On the technical front, the initial resistance to the exchange rate upward is at 1.2172, further resistance is at 1.2208, and the key resistance is at 1.2257. The initial support for the lower exchange rate is at 1.2086, further support is at 1.2037, and more critical support is at 1.2001.

Sterling: Sterling turned lower against the DOLLAR, closing down 0.78% at 1.3294. Technically, the initial resistance is at 1.3382, further resistance is at 1.3479, and the key resistance is at 1.3548. Initial support for the lower exchange rate is at 1.3217, further support at 1.3148, and more critical support at 1.3052.

Yen: Dollar/jPY rose for the third day in a row, closing at 104.20, up 0.02%. Technically, the initial resistance to the exchange rate upward is at 104.50, further resistance is at 104.77, and key resistance is at 104.96. Initial support for the lower exchange rate is at 104.04, further support is at 103.85, and more critical support is at 103.58.

The stock market

London (marketwatch) – European stock markets closed lower on Thursday, with the ftse 100 index and France’s CAC40 index edging higher as investors closely watched the latest developments in brexit trade talks and new stimulus measures from the European central bank. In Europe, the Stoxx 600 index closed down 40.46 points, or 0.30%, at 13,299.80. Banks led the way, falling 2%, while oil and gas bucked the trend and rose 1.5%. Germany’s DAX30 index closed down 40.46 points, or 0.30%, at 13,299.80. The FTSE 100 index closed up 34.75 points, or 0.53 per cent, at 6,599.04. The CAC-40 index in France closed up 2.83 points, or 0.05%, at 5,549.65. In Europe, the Stoxx 50 index closed down 7.17 points, or 0.20 percent, at 3,521.85. Spain’s IBEX35 index closed down 54.30 points, or 0.66%, at 8,181.00. Italy’s FTSE MIB index closed down 46.09 points, or 0.21 percent, at 21,923.50.

U.S. stocks ended mixed. At the close, the Dow Jones Industrial Average fell 69.60 points, or 0.23%, to 29,999.26, down 30,000 points. The S&P 500 closed down 4.70 points, or 0.13%, at 3,668.10. The Nasdaq Composite index closed up 66.90 points, or 0.54%, at 12,405.81.

Commodity markets

In late U.S. trading, spot gold closed at $1,836.30 an ounce, down $3.10 0.17 percent, after touching as high as $1,849.96 and as low as $1,828.59.

COMEX gold futures for February delivery closed down 0.1 percent at $1,837.40 an ounce.

Despite the latest figures from the US Energy Information Administration showing a surge in crude oil stocks as of last week, there are signs of a rebound in fuel demand as the UK starts mass vaccinations and Canada and the US have already approved and may soon approve vaccines, respectively. On Thursday, two major oil futures rebounded strongly from earlier losses. U.S. WTI crude for January delivery closed up $1.26, or 2.77 percent, at $46.78 a barrel at press time. Brent crude for February delivery ended up $1.39, or 2.84 percent, at $50.25 a barrel, its highest level since early March, after hitting an intraday high of $51.06. Earlier in the session, American Oil closed down 8 cents, or 0.17 percent, at $45.2 a barrel. Cloth oil closed up 2 cents, or 0.04 percent, at $48.86 a barrel.

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