Financial markets daily

Last session market review

The dollar index on the day all the way to a modest rebound, now maintain a small upward momentum. Spot gold rebounded from the start of the session to trade at $1,707 an ounce, up 0.35 percent on the day.

The rest of the session will focus on the minutes of the Swedish central bank’s monetary policy meeting.

Fx: euro/dollar at 1.0840; Sterling/dollar closed at 1.2407; The Australian dollar closed at 0.6529. The dollar was at 106.65 yen; U.S. dollar/Canadian dollar at 1.3925; The dollar was at 0.9706 Swiss francs.

Commodities: spot gold closed at $1701.18 an ounce; Comex gold ended at $1,713.90 an ounce. Spot silver settled at $15.45 an ounce; Comex silver futures closed at $15.778 an ounce; Brent crude closed at $30.97 a barrel; NYMEX crude settled at $24.74 a barrel.

In the currency market

Euro: the euro rose for a second day, or 0.08%, to 1.0840, as the dollar continued its slide. On the technical surface, the initial resistance of the exchange rate upward is at 1.0900, the further resistance is at 1.0980, and the key resistance is at 1.1040. The initial support for the fall in the exchange rate is at 1.0790, further support at 1.0720, more critical support at 1.0635.

Sterling: the pound rose for a second day, or 0.36%, to close at 1.2407. On the technical side, the initial resistance to the upward movement of the exchange rate is 1.2520, the further resistance is 1.2645, and the key resistance is 1.2720. The initial support for the decline of the exchange rate is at 1.2405, further support is at 1.2320, more critical support is at 1.2250.

Yen: dollar/yen rose for the second day in a row, up 0.35% to 106.65. On the technical level, the initial resistance to the upward movement of the exchange rate is 107.25, the further resistance is 108.00, and the key resistance is 108.60. The initial support for the decline of the exchange rate is at 106.20, further support is at 105.75, more critical support is at 105.35.

The stock market

Stocks rose on Friday as investors bet that the worst of the covid-19 outbreak and its economic impact were over, despite a grim monthly jobs report from the labor department. The dow Jones industrial average surged 455.43 points, or 1.9%, to 243,3331.32. The s&p 500 gained 1.6%, or 48.61 points, to 2,929.80. The nasdaq composite index rose 1.5%, or 141.66 points, to 9,121.32.

London (MarketWatch) – European stocks ended higher Friday on signs of a thaw in geopolitical tensions between China and the United States after the U.S. labor department reported poor employment data. Germany’s DAX index closed up 1.4 percent, while France’s cac-40 and Italy’s FTSE both closed up about 1 percent. Britain’s FTSE 100 index was closed on Friday for victory day, the 75th anniversary of the end of the second world war.

The bond market

On the Treasury side, two-year yields fell to a record low of 0.105 per cent as more data emerged on the devastating economic impact of the covid-virus. The yield on the benchmark 10-year Treasury note rose 2 basis points to 0.657 per cent. The 30-year yield jumped 4 basis points to 1.362 per cent.

Commodity markets

International spot gold Friday morning in Asia city to open at 1715.83 dollars/ounce, the highest rise to 1723.20 dollars/ounce, the lowest down 1700.03 dollars/ounce, to 1701.18 dollars/ounce, down 13.98 dollars or 0.82%, this week up 2.06 dollars or 0.12%.

COMEX gold for June delivery ended down 0.7 percent at $1,713.90 an ounce, after gaining 0.8 percent for the week.

Traders and investors bet that the economy is in the outbreak of the new champions league return, oil production decline, demand began to recover, and the declining number of oil drilling, oil prices on Friday (May 8) closed up: June U.S. WTI crude futures rose $1.19, or 5%, to $24.74 a barrel, WTI oil prices rose 25% this week, a week earlier rose nearly 17%; Brent crude for July delivery rose $1.51, or 5 percent, to $30.97 a barrel. Cloth oil is up nearly 17 percent this week and more than 23 percent last week.

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