Financial markets daily

In the currency market

EUR: EUR/USD turned positive to close at 1.2169, up 0.16%. Technically, initial upside resistance stands at 1.2193, further resistance at 1.2216, key resistance at 1.2259; Initial downside support stands at 1.2128, further support at 1.2085 and more critical support at 1.2062.

GBP: Sterling rose for a fifth straight day against the dollar to close at 1.4138, up 0.21%. Technically, initial upside resistance stands at 1.4218, further resistance at 1.4301, key resistance at 1.4366; Initial downside support at 1.4071, further support at 1.4006 and more critical support at 1.2923.

JPY: USDJPY closed higher for the second day in a row at 105.83, up 0.62%. Technically, initial upside resistance stands at 106.25, further resistance at 106.64, key resistance at 107.18; Initial downside support at 105.32, further support at 104.78 and more critical support at 104.38.

The stock market

The three major indexes traded lower and then rose, with the Dow extending its mid-session rally to a record high and technology stocks stabilizing, but individual shares remained soft. The Dow closed up 424.50 points, or 1.35 percent, at 31961.86, its first intraday high above 32,000. The S&P 500 rose 44.10 points, or 1.14 percent, to 3,925.43. The Nasdaq closed up 132.80 points, or 0.99 percent, at 13,597.97.

LONDON (MarketWatch) – European stocks closed higher on Wednesday as markets digested comments from Federal Reserve Chairman Colin Powell and upbeat data on the German economy. The pan-European Stoxx 600 Index ended up 1.89 points, or 0.46%, at 413.21. Travel and leisure stocks led the way, up 1.9%. Germany’s DAX30 index closed up 111.19 points, or 0.80%, at 13,976.00. The FTSE 100 closed up 33.03 points, or 0.50%, at 6,658.97. France’s CAC-40 index ended up 18.14 points, or 0.31 percent, at 5,797.98. The Euro Stoxx 50 index ended up 15.45 points, or 0.42 percent, at 3,704.55. Spain’s IBEX35 index closed up 16.90 points, or 0.20 percent, at 8,269.00. Italy’s FTSE MIB index closed up 158.77 points, or 0.69 per cent, at 23098.15.

Commodity markets

Spot gold settled at $1805.34 an ounce, down 24 cents, or 0.01%, from an intraday high of $1,814.14 and a low of $1,783.56.

COMEX gold futures for April delivery ended down 0.4 percent at $1,797.90 an ounce.

Both major crude oil futures ended higher on Wednesday. U.S. WTI crude for April delivery settled up $1.55, or 2.51 percent, at $63.22 a barrel at press time. Brent crude for May delivery ended up $1.67, or 2.55 percent, at $67.04 a barrel. In the previous session, U.S. oil fell 11 cents, or 0.18 percent, to $61.67 a barrel. Cloth oil ended up 13 cents, or 0.20 percent, at $65.37 a barrel.

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