Last session market review
As governments announced relaxation outbreak-related restrictions, market supported by the global demand recovery hopes, U.S. stocks on Tuesday slightly under pressure, the dollar continued to fall, investors pay close attention to the federal reserve meeting and adjust the position at the end of the month, spot gold by taking profits barely closed above 1700, U.S. crude oil prices back most of the decline.
This trading day the federal reserve decision in conjunction with the United States first quarter GDP hit.
Fx: eur/usd 1.0818; The pound closed at 1.2423; The Australian dollar closed at 0.6489; Dollar/yen closed at 106.85; Us $1.3992; The dollar was last at 0.9749 Swiss francs.
Commodities: spot gold closed at $1706.98 an ounce; Comex gold ended at $1,723.80 an ounce; Spot silver settled at $15.14 an ounce; Comex silver closed at $15.171 an ounce; Brent crude closed at $22.74 a barrel; NYMEX crude closed at $12.34 a barrel.
In the currency market
Euro: the euro fell for the first time in three days to 1.0818, down 0.09 percent. On the technical level, the currency’s pivot point is at 1.0839, the initial resistance to upward movement is at 1.0868, further resistance at 1.0918, and key resistance at 1.0947. The initial support of the exchange rate down at 1.0790, further support at 1.0761, more critical support at 1.0712.
Sterling: the pound fell for the first time in five days to close at 1.2423, down 0.01%. On the technical level, the currency’s pivot point is 1.2447, the initial resistance to the exchange rate rising is 1.2489, further resistance is 1.2561, and the key resistance is 1.2603. The initial support on the downside was at 1.2375, further support at 1.2333 and more critical support at 1.2261.
Yen: dollar/yen fell for the fifth straight day, closing at 106.85, down 0.37%. Technically, the currency’s pivot point is at 106.92, the initial resistance to the upward movement of the exchange rate is at 107.28, further resistance at 107.70, and key resistance at 108.06. The initial support of the exchange rate down at 106.50, further support at 106.14, more critical support at 106.73.
The stock market
U.S. and European stocks: declines in large-cap technology stocks hurt sentiment, and U.S. stocks closed lower in a volatile session Tuesday: the dow Jones industrial average ended down 32.23 points, or 0.1%, at 24101.55, ending a four-session winning streak. The s&p 500 fell 0.5% to 2,863.39; The nasdaq composite index fell 1.4% to 8,607.73. All three indexes rose more than 1 percent.
London (MarketWatch) – European stock markets ended higher Tuesday, with most sectors and major indexes closing higher as investors reacted to a volatile oil market and a slew of recent earnings reports. The pan-European Stoxx 600 gained 1.5 percent, led by Banks, which rose 4.6 percent. Germany’s DAX closed up 136.91 points, or 1.28%, at 10,796.90. Britain’s FTSE 100 closed up 109.61 points, or 1.87 percent, at 5,956.40. France’s CAC-40 index closed up 64.53 points, or 1.43 percent, at 4,569.79. Spain’s IBEX35 index closed up 107.20 points, or 1.59%, at 6,839.00. Italy’s FTSE closed up 308.29 points, or 1.77 percent, at 17688.50. Europe’s Stoxx 50 index closed up 48.44 points, or 1.68%, at 2,930.55.
The bond market
Treasury yields fell on Tuesday. The yield on the benchmark 10-year Treasury note fell about 2 basis points to 0.64 per cent, while the yield on the 30-year Treasury note fell about 2 basis points to 1.23 per cent. Despite strong auctions of two-year and five-year notes on Monday, yields on 10-year and 30-year notes have held steady so far.
International spot gold started at $1,712.41 an ounce in early trading on Tuesday, rising as high as $1,715.30 an ounce and dipping as low as $1,691.19 an ounce, down $7.21, or 0.42%, to $1,706.98 an ounce. Spot gold briefly fell more than $20 to just above $1,690 an ounce in U.S. trading.
COMEX June gold futures ended down 0.7 percent at $1,723.80 an ounce.
Fears that the June WTI contract will turn negative as the delivery date approaches sent the oil market sharply lower on Tuesday: U.S. WTI crude for June delivery fell 44 cents, or 3.4%, to $12.34 a barrel. WTI crude for June fell to an intraday low of $10.09 a barrel before recovering. Brent crude for June delivery fell 33 cents, or 1.4 percent, to $22.74 a barrel.