Financial markets daily

In the currency market

EUR: EUR/USD turned positive to close at 1.1983, up 0.13%. Technically, initial upside resistance stands at 1.2000, further resistance at 1.2060, key resistance at 1.2120; Initial downside support at 1.1945, further support at 1.1880 and more critical support at 1.1800.

GBP: Sterling rose for a fifth straight day against the dollar to close at 1.3832, up 0.33%. Technically, initial upside resistance stands at 1.3850, further resistance at 1.3910, key resistance at 1.4000; Initial downside support stands at 1.3670, further support at 1.3565 and more critical support at 1.3440.

JPY: USD/JPY rose for the first time in five days, closing 0.07% higher at 108.80. Technically, initial upside resistance stands at 109.00, further resistance at 109.20, key resistance at 109.65; Initial downside support at 108.60, further support at 108.40 and more critical support at 108.00.

The stock market

Strong earnings from Bank of America, Goldman Sachs and Morecom this week have stoked investors’ hopes of an economic recovery. Combined with strong U.S. retail sales, initial jobless claims and China’s record GDP growth today, risk sentiment continues to run high. Big bank earnings took a break from the week, with the Dow and the Standard & Poor’s continuing to hit record highs on Friday. The Dow Jones Industrial Average closed up 166.00 points, or 0.49 percent, at 34201.99 after breaking through 34,000 for the first time in the previous session. The S&P 500 rose 14.08 points, or 0.34 percent, to an all-time high of 4184.50. The Nasdaq Stock Average rose 13.58 points, or 0.10 percent, to 14,052.34. For the week, the Dow is up 1.19 percent, the S&P 500 is up 1.38 percent and the Nasdaq is up 1.1 percent.

LONDON (Marketplace) – European stocks rose on Friday after hitting record highs in the previous session, as investors were encouraged by strong U.S. economic data and prospects for a recovery. The pan-European Stoxx 600 index closed up 3.94 points, or 0.90 percent, at 442.49, with the auto sector gaining 2.1 percent. Germany’s DAX30 index.DAX30 gained 204.42 points, or 1.34 percent, to 15,459.75, its second straight record closing high and up 1.48 percent for the week. The FTSE 100 closed 36.03 points higher, or 0.52 per cent, at 7,019.53. The index is back above the psychological round number of 7,000 since February 26, 2020, up 1.50 per cent on the week.

Commodity markets

Spot gold settled at $1,776.51 an ounce, up $12.56, or 0.71 percent, after hitting its highest since Feb. 25 at $1,783.78 and falling as low as $1,759.55. Spot gold this week, $32.63 or 1.87 percent.

COMEX gold futures for June delivery ended up 0.8 percent at $1,780.20 an ounce, up about 2.0 percent for the week.

Russia’s deputy prime minister said on Friday (April 16) that OPEC + countries will gradually restore oil production between May and July. Russia is considering imposing a temporary ban on some fuel exports in the near future in an effort to stem rising domestic fuel prices. Russia’s energy ministry said in a statement that it supported “in principle” a temporary ban on gasoline exports. Two major crude oil futures closed lower on the day, ending a four-game winning streak. U.S. WTI crude for May delivery settled down 33 cents, or 0.52 percent, at $63.13 a barrel. Brent crude for June delivery settled down 17 cents, or 0.25%, at $66.77 a barrel. This week, the United States oil still closed up 6.42%, cloth oil closed up 6.09%.

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