Last session market review
The dollar index continued to fall, hitting a low of 96.51. Spot gold rallied sharply, just touching $1,674.77 an ounce, after closing up more than $35 in the previous session. Major U.S. stock indexes suffered heavy losses, with the dow closing down nearly 970 points.
On Friday, the fed’s Williams, kashkari, Evans, mester and other officials will speak on the release of the U.S. nonfarm payrolls report and the trade account.
Fx: eur/usd closed at 1.1239; The pound closed at $1.2952; The Australian dollar closed at 0.6611; Dollar/yen closed at 106.15; Us $1.3406; The dollar was last at 0.9452 Swiss francs.
Commodities: spot gold closed at $1,671.95 an ounce; Comex gold ended at $1,668.0 an ounce; Spot silver settled at $17.41 an ounce; Comex silver ended at $17.393 an ounce; Brent crude closed at $49.99 a barrel; NYMEX crude settled at $45.90 a barrel.
In the currency market
The euro opened at $1.1198 in New York last session, extended gains, and traded around $1.1230 late in the session. From the technical point of view, the MACD red kinetic energy column is steadily stretched, KDJ index high continues to rise, indicating that the exchange rate short line upward kinetic energy remains abundant. The initial resistance to the exchange rate rise is at 1.1281, further resistance at 1.1326, the key resistance at 1.1407; The initial support of the exchange rate down at 1.1156, further support at 1.1074, more critical support at 1.1030.
GBP/USD: opened at 1.2921, continued to move higher during the session, and closed around 1.2949. From the technical point of view, the MACD red kinetic energy column began to appear, KDJ indicators point to the Central Line above, indicating the recent upward trend of the exchange rate to maintain a firm. The initial resistance of the exchange rate upward is at 1.2991, further resistance at 1.3034, more critical resistance at 1.3100; The initial support of the exchange rate down at 1.2883, further support at 1.2817, more critical support at 1.2774.
Usd/jpy: the session opened at 106.81, with heavy pressure during the session and late trading around 106.10. From the technical side, MACD green kinetic energy column moderate expansion, KDJ indicators deep low, suggesting that the downside risk is rising. The initial resistance of the exchange rate upward is at 107.28, further resistance at 108.40, more critical resistance at 109.06; The initial support of the falling exchange rate is at 105.50, further support at 104.84, more critical support at 103.72.
The stock market
U.S. and European stocks: markets remain highly volatile in the face of rapidly spreading coronavirus. Stocks tumbled Thursday, erasing most of the previous session’s gains. The dow closed down 969.58 points, or 3.5%, at 26,121.28, from an intraday low near 1,150. The s&p 500 fell 3.3%, or 106.18, to 3,023.94. The NASDAQ fell 3.1%, or 279.49, to 8,738.60. All 11 s&p components ended the day in the red. Stocks fell sharply and the yield on the 10-year Treasury note fell to a record low of below 0.9 percent.
European stock markets closed lower on Thursday after another week of wild swings in global markets amid fears of a new coronavirus outbreak. The pan-European Stoxx 600 indexes were temporarily down about 1.4%. The index earlier fell 2.8 percent. Basic resources and cars were the worst performers.
The bond market
The U.S. 10-year Treasury note fell to a record low on Thursday as renewed concerns about a new coronavirus sparked a new round of buying of Treasury bonds, hurting riskier assets such as stocks. Around 12:40 p.m. Et, the yield on the benchmark 10-year Treasury note fell to a new record low of 0.899 percent, down from an all-time low of 0.906 percent earlier this week. The yield was last seen at 0.91%. Meanwhile, the yield on the 30-year Treasury note fell 9 basis points to 1.543 percent. The yield on the two-year Treasury note last traded at 0.585 percent, off a record low of 0.554 percent earlier in the session.
International spot gold Thursday morning trading at $1,636.47 / oz, then for a long time has been maintaining a narrow consolidation. After the European market opened, long began to enter, spot gold from the low continued to pull up, one after another through 1640, 1650 and 1660 dollars. After the U.S. market opened, the bulls became more aggressive, gold continued its strong momentum, one fell through the $1,670 mark, a new session high of $1,674.40 an ounce, then retreated slightly from the high to close at $1,671.95 an ounce.
COMEX April gold futures closed up $25.0, or 1.5 percent, at $1,668.0 an ounce.
U.S. WTI crude for April delivery closed down 88 cents, or 1.9 percent, at $45.90 a barrel on Thursday. Brent may futures closed down $1.14, or 2.2 percent, at $49.99 a barrel on Thursday, their lowest close since July 24, 2017. Oil bulls have been disappointed that the organization of petroleum exporting countries (OPEC) has yet to win support from Russia for deeper production cuts, and oil prices are expected to remain under pressure as the outbreak continues to spread. U.S. WTI crude futures hit an intraday low of $45.65 a barrel, while Brent crude hit an intraday low of $49.70.