Last session market review
U.S. stock futures turned lower and spot gold opened slightly lower Monday, trading around $1,720, while U.S. WTI crude oil extended losses to 8 percent and the dollar index held firm.
This trading day focus on the bank of Japan interest rate decision.
Fx: eur/usd 1.0820; The pound closed at $1.2367; The Australian dollar closed at 0.6385; The dollar closed at 107.52 yen; Us $1.4102; The dollar was last at 0.9729 Swiss francs.
Commodities: spot gold closed at $1,727.68 an ounce; Comex gold ended at $1,735.60 an ounce; Spot silver settled at $15.22 an ounce; Comex silver ended at $15.263 an ounce; Brent crude settled at $21.44 a barrel; NYMEX crude settled at $16.94 a barrel.
In the currency market
Euro: the euro rose for the first time in five days to 1.0820, up 0.41%, as the dollar turned lower. On the technical surface, the initial resistance of the exchange rate upward is at 1.0830, further resistance at 1.0884, the key resistance at 1.0921; The initial support of the exchange rate down at 1.0740, further support at 1.0703, more critical support at 1.0649.
Sterling: the pound/dollar rose for the third day in a row, closing up 0.19% at 1.2367. On the technical surface, the initial resistance to the upward trend of the exchange rate is 1.2404, further resistance is 1.2463, the key resistance is 1.2511; The initial support of the exchange rate down at 1.2297, further support at 1.2249, more critical support at 1.2190.
Yen: dollar/yen fell for a third day, ending at 107.52, down 0.05%. On the technical surface, the initial resistance to the upward trend of the exchange rate is at 107.98, further resistance at 108.36, the key resistance at 108.68; The initial support of the falling exchange rate is at 107.28, further support at 106.97, more critical support at 106.59.
The stock market
U.S. and European stocks: oil prices rebounded from a historic drop earlier this week, and U.S. stocks rose on Friday as investors assessed the possibility of Gilead Sciences treating COVID 19. The dow jones industrial average closed up 260.01 points, or 1.1%, at 23775.27. The dow is down 1.9% for the week. The s&p 500 gained 1.4% to close at 2,836.74. The technology was the best performing sector in the s&p 500, up 2.1%, with Apple up more than 2%. The s&p 500 is down more than 1 percent this week. The NASDAQ composite index rose 1.7% to 8,634.52. The NASDAQ is down 0.2% so far this week.
European stocks ended lower on Friday, April 24, as traders continued to focus on the latest economic data and digested a report that raised questions about COVID-19 therapy. The pan-European Stoxx 600 index temporarily closed down more than 1 percent, with most sectors and major exchanges closing lower, with travel and leisure among the worst performers, down more than 3 percent. Germany’s DAX closed down 182.49 points, or 1.74 percent, at 10,331.30. Britain’s FTSE 100 closed down 83.21 points, or 1.43 percent, at 5,743.40. France’s CAC-40 index closed down 57.68 points, or 1.30 percent, at 4393.32. Spain’s IBEX35 index closed down 136.50 points, or 2.02%, at 6610.00. Italy’s FTSE closed down 159.61 points, or 0.94%, at 16,851.50. The Stoxx Europe 50 index closed down 44.81 points, or 1.57%, at 2807.65.
The bond market
In the bond market, U.S. Treasury yields were flat on Friday as traders anticipated new economic data and digested reports questioning the efficacy of the new crest from redway. The yield on the 30-year Treasury note was slightly higher at 1.20.
International spot gold started at $1,729.81 an ounce in early trading on Friday, rising as high as $1,766.40 an ounce, and dipping as low as $1,709.40 to close at $1,727.68, down $2.82, or 0.16 percent.
COMEX gold futures for June delivery ended down 0.56 percent at $1,755.60 an ounce, down $9.8 from the previous day and up about 2.2 percent for the week.
On Friday, the oil market extended the previous session’s gains: U.S. WTI crude for June delivery rose 44 cents, or 3%, to $16.94 a barrel. The futures price is down 7% this week; Brent crude for June delivery was up 11 cents, or 0.5 percent, at $21.44 a barrel.