Financial Markets Daily

In the currency market

Euro: EurUSD turned lower, closing 0.18% lower at 1.2113, down 0.07% for the week. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.2177, further resistance is at 1.2200, and the key resistance is at 1.2310. Initial support for the lower exchange rate is at 1.2100, further support is at 1.2055 and more critical support is at 1.2010.

Sterling: Down 0.52% to $1.3223 for a second day, down 1.64% on the week. Technically, the initial resistance is at 1.3310, further resistance is at 1.3480, and key resistance is at 1.3540. The initial support is at 1.3100, the further support is at 1.3000, and the more critical support is at 1.2850.

Jpy: DOLLAR/JPY fell for the first time in four days, closing down 0.23% at 103.99, down 0.12% for the week. Technically, the initial resistance to the exchange rate upward is at 104.25, further resistance is at 104.60, and key resistance is at 105.00. 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

New York (Reuters) – The Nasdaq Composite index fell as much as 1 percent and the Dow Jones Industrial Average shed more than 100 points at the close of trading on Friday after negotiations over a new U.S. bailout plan ended mixed. The Dow Closed up 47.10 points, or 0.16%, at 30046.37. The S&P 500 closed down 4.60 points, or 0.13%, at 3,663.46. The Nasdaq composite index closed down 27.90 points, or 0.23%, at 12,377.87. The Dow and s&p 500 posted their first weekly losses in three weeks, down 0.6 percent and 1 percent, respectively, while the Nasdaq was down 0.7 percent for the week.

European stocks fell on Friday as talks on a U.S. fiscal stimulus stalled and a deadline for Britain to leave the European Union neared. The Pan-European Stoxx 600 index closed down 3.03 points, or 0.77%, at 390.12. Among them, telecommunications plate led the decline, down 2.9%; Germany’s DAX30 index ended down 181.43 points, or 1.36 percent, at 13,114.30. Britain’s FTSE 100 index closed down 53.01 points, or 0.80%, at 6,546.75. France’s CAC40 index closed down 42.10 points, or 0.76%, at 5,507.55. In Europe, the Stoxx 50 index closed down 35.16 points, or 1.00%, at 3,487.15. Spain’s IBEX35 index closed down 117.80 points, or 1.44%, at 8,064.50. Italy’s FTSE MIB index closed down 213.35 points, or 0.97%, at 217,02.16.

Commodity markets

In late US trading, spot gold closed at $1,839.53 an ounce, up $3.11 0.17 percent, having touched as high as $1,847.65 an ounce and as low as $1,825.71. Spot gold rose 86 cents, or 0.05 percent, this week.

Gold futures for February delivery on the COMEX rose 0.3 percent to $1,843.60 an ounce after gaining 0.2 percent on the week.

Crude oil futures failed to extend gains in the previous session on Friday as worries about Britain leaving the European Union without a deal grew and countries such as Germany could further strengthen social isolation measures by the end of the week. U.S. WTI crude for January delivery ended down 21 cents, or 0.45 percent, at $46.57 a barrel at press time. Brent crude for February delivery ended down 28 cents, or 0.56 percent, at $49.97 a barrel. However, American Oil finished up 0.67 percent for the week, its sixth straight weekly gain, while Oil finished up 1.46 percent, as the COVID-19 vaccine revived demand for crude.

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