Financial Markets Daily

In the currency market

Euro: The euro fell against the dollar for a second day, closing down 0.16 percent at 1.2237. On the technical front, the initial resistance to the upward movement of the exchange rate is at 1.2283, further resistance is at 1.2330, and key resistance is at 1.2407. Initial support for the lower exchange rate is at 1.2160, further support at 1.2083, and more critical support at 1.2036.

Sterling: Fell for a second day against the DOLLAR, closing down 0.42% at 1.3467. On the technical front, the initial resistance is at 1.3579, the further resistance is at 1.3695 and the key resistance is at 1.3891. The initial support is at 1.3267, further support is at 1.3071, and more critical support is at 1.2956.

Yen: UsdJPY turned lower, closing down 0.01% at 103.32. Technically, the initial resistance to the exchange rate upward is at 103.71, further resistance is at 104.12, and the key resistance is at 104.36. The initial support for the lower exchange rate is at 103.07, the further support is at 102.84 and the more critical support is at 102.43

The stock market

America’s congress finally hammered out a roughly $900 billion rescue plan, to help alleviate the pressure of the winter outbreak rebound on the us economy, but the market worries about COVID – 19 variants of the virus to compression of U.S. stocks, the dow Jones industrial average on Monday (Dec. 21) opened lower point, early is more than 300 points, short narrow decline after selling pressure, slip has more than 400 points. Still, the lows were resilient, with the Mid-Dow recovering all its losses before rising more than 100 points, with banks contributing to the market’s gains. The Dow closed up 37.40 points, or 0.12%, at 30216.45. The S&P 500 closed down 14.79 points, or 0.40%, at 3,694.62. The Nasdaq Composite index closed down 13.12 points, or 0.10%, at 12742.52.

London (Marketwatch) – European stock markets closed sharply lower on Monday as investors kept a close eye on a new and more infectious strain of the virus that has sealed off much of Britain. The Pan-European Stoxx 600 index closed down 9.21 points, or 2.33 percent, at 386.69. Banks led the way, falling 3.6%; Germany’s DAX30 index closed down 384.21 points, or 2.82%, at 13,246.30. Britain’s FTSE 100 index closed down 112.86 points, or 1.73%, at 6416.32. The CAC-40 index in France closed down 134.50 points, or 2.43%, at 5,393.34. In Europe, the Stoxx 50 index closed down 98.29 points, or 2.77 percent, at 3447.45. Spain’s IBEX35 index closed down 243.40 points, or 3.03%, at 7794.00. Italy’s FTSE MIB index closed down 565.61 points, or 2.57%, at 21,410.51.

Commodity markets

Spot gold closed at $1,876.74 an ounce, down $4.46, or 0.24 percent, after touching an intraday low of $1,584.93 and an intraday high of $1,906.66 an ounce, its highest since November 9.

Gold for February delivery on COMEX fell 0.3 percent to $1,882.80 an ounce.

Novel Coronavirus and tightening travel restrictions in Europe sparked fears of a slowing economic recovery in the UK, prompting investors to unwind their bets. The oil market has been in a bull market for the past month or so, ignoring negative factors, and two major crude oil futures took a beating on Monday (Dec. 21). At press time, U.S. WTI crude for January delivery was down $1.36, or 2.77 percent, at $47.74 a barrel after hitting a new one-week low of $46.25. Brent crude for February delivery ended down $1.35, or 2.58 percent, at $50.91 a barrel. Last week, U.S. oil finished up 5.43% and U.S. oil rose 4.58%.

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