Last session market review
Shocking U.S. jobless claims on April 16 sent investors searching for safety as the dollar index surged above 100, spot gold fell back to close mostly flat and oil prices were mixed on Thursday. U.S. stocks closed slightly higher as amazon and netflix surged to record highs.
The rest of the day will focus on China’s first-quarter GDP data.
Fx: eur/usd 1.0833; The pound closed at $1.2457; The Australian dollar closed at 0.6328; The dollar closed at 107.90 yen; Us $1.4076; The dollar was last at 0.9706 Swiss francs.
Commodities: spot gold closed at $1,717.60 an ounce; Comex gold ended at $1,731.70 an ounce; Spot silver settled at $15.54 an ounce; Comex silver ended at $15.622 an ounce; Brent crude settled at $27.82 a barrel; NYMEX crude settled at $19.78 a barrel.
In the currency market
Euro: euro/dollar extended its losses to close at 1.0833, down 0.64 percent. On the technical plane, the pivot point of the currency pair is at 1.0855, the initial resistance to the exchange rate rise is at 1.0893, the further resistance is at 1.0949, and the key resistance is at 1.0987. The initial support of the exchange rate down at 1.0799, further support at 1.0761, more critical support at 1.705.
Sterling: The pound fell for a second day, closing down 0.5% at $1.2457. On the technical level, the pivot point of the currency pair is 1.2462, the initial resistance to the upward trend of the exchange rate is 1.2516, further resistance is 1.2580, and the key resistance is 1.2633. The initial support of the exchange rate down at 1.2399, further support at 1.2345, more critical support at 1.2281.
Yen: dollar/yen rose for a second day, up 0.4% to 107.90. On the technical level, the pivot point of the currency pair is 107.72, the initial resistance to the upward trend of the exchange rate is 108.27, the further resistance is 108.63, and the key resistance is 109.18. The initial support of the falling exchange rate is at 107.36, further support at 106.81, more critical support at 106.45.
The stock market
U.S. and European stocks: as Wall Street grappled with more fears of a new outbreak and gloomy economic data, stocks edged higher Thursday: the dow jones industrial average closed up 33.33 points, or 0.1%, at 23537.68, after falling more than 200 points at one point. The s&p 500 gained 0.6% to 2,799.55; The NASDAQ composite index rose 1.7% to 8,532.36. In the previous session, the Dow and NASDAQ both fell more than 1 percent, while the s&p 500 fell 2.2 percent.
European stock markets ended higher on Thursday, with most sectors and major indexes up, as some countries in the region began planning to lift blockades imposed by a new outbreak. The pan-European Stoxx 600 index temporarily closed up 0.8%, led by a 3% rise in technology stocks, while oil and gas fell nearly 2%. Germany’s DAX closed up 16.04 points, or 0.16%, at 10295.80. Britain’s FTSE 100 closed up 30.57 points, or 0.55 percent, at 5,628.45. France’s CAC-40 index closed down 3.56 points, or 0.08 percent, at 4350.16. Spain’s IBEX35 index closed down 75.50 points, or 1.10 percent, at 6,764.00. Italy’s FTSE closed up 35.43 points, or 0.21 percent, at 16,754.50. Europe’s Stoxx 50 index closed up 3.35 points, or 0.12 percent, at 2811.55.
The bond market
The gloomy economic data extended the previous session’s decline in long-term Treasury yields. On Thursday, the yield on the benchmark 10-year Treasury note fell 3 basis points to about 0.60 per cent, while the yield on the 30-year note also fell to 1.23 per cent.
International spot gold Thursday morning opened at $1,715.90 an ounce, rose as high as $1,738.70 an ounce, and touched as low as $1,707.24 to close at $1,717.60, up to $1.73 or 0.1%.
COMEX gold futures for June ended down 0.5 percent at $1,731.70 an ounce, down for a second straight session.
Oil prices were little changed on Wednesday: U.S. WTI crude for may ended flat at $19.78 a barrel after hitting an 18-year low of $19.21 on Wednesday. Brent crude for June delivery rose 13 cents, or 0.5%, to $27.82 a barrel. The price of Brent crude fell 4.7% in the previous session, after falling 48% last month and 61% in the first quarter.