Financial markets daily

In the currency market

EUR: The euro rose for a second day in a row against the dollar to close at 1.2170, up 0.07%, and up 0.74% on the week. Technically, initial upside resistance stands at 1.2222, further resistance at 1.2300, key resistance at 1.2350; Initial downside support at 1.2100, further support at 1.2060 and more critical support at 1.2000.

GBP: Sterling fell against the dollar for the first time in four days, closing down 0.32% at 1.3681, up 0.68% on the week. Technically, initial upside resistance stands at 1.3705, further resistance at 1.3740, key resistance at 1.3810; Initial downside support stands at 1.3620, further support at 1.3510 and more critical support at 1.3450.

JPY: USDJPY rose for the first time in three days to close at 103.76, up 0.28%, and down 0.09% on the week. Technically, initial upside resistance stands at 103.85, further resistance at 104.25, key resistance at 104.50; Initial downside support at 103.50, further support at 103.00 and more critical support at 102.70.

The stock market

More than 97.96 million people have been diagnosed with CoviD-19 and 2.1 million have died, according to data released by Johns Hopkins University on Friday (22 January). The Dow Jones Industrial Average fell more than 100 points as the global outbreak worsened and negative sentiment intensified. At the close, the Dow was down 179.00 points, or 0.57%, at 30,996.98. The S&P 500 fell 11.60 points, or 0.30 percent, to 3,841.47. The Nasdaq Stock Average rose 12.10 points, or 0.09 percent, to 13,543.06.

Eurozone business activity fell to a two-month low in January, according to preliminary data released on Friday, as blockade measures related to the new pandemic tightened. European stocks ended the day lower as some European countries announced further travel restrictions in response to a growing outbreak of the novel Coronavirus virus and a highly infectious variant. The pan-European Stoxx 600 index closed down 2.35 points, or 0.57 percent, at 408.54. Travel and leisure stocks led the decline, falling 2.5%. Germany’s DAX30 index closed down 32.70 points, or 0.24 percent, at 13,873.97. Britain’s FTSE 100 index closed down 20.35 points, or 0.30%, at 6,695.07. France’s CAC-40 index closed down 31.22 points, or 0.56 percent, at 5,5559.57. The Euro Stoxx 50 index ended down 15.40 points, or 0.43 percent, at 3,602.95. Spain’s IBEX35 index closed down 87.10 points, or 1.07 percent, at 8,035.00. Italy’s FTSE MIB index closed down 340.57 points, or 1.52 per cent, at 22088.36.

Commodity markets

Spot gold settled down $14.41, or 0.77 percent, at $1,855.46 an ounce, after dropping more than $30 after hitting a high of $1,870.80 and setting a new session low of $1,837.22. However, spot gold still ended the week up $27.16, or 1.49 percent.

Comex February gold futures closed down 0.52 percent at $1,856.20 an ounce.

U.S. WTI crude for March delivery ended down 86 cents, or 1.62 percent, at $52.27 a barrel at press time, after hitting a one-week low of $51.44. Brent crude for March delivery ended down 69 cents, or 1.23 percent, at $55.41 a barrel, still up 0.56 percent for the week. In the previous session, oil fell 18 cents, or 0.34 percent, to $53.13 a barrel. Cloth oil ended up 2 cents, or 0.03 percent, at $56.10 a barrel.

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