Financial markets daily

Last session market review

On May 11, the dollar index closed up 0.49 percent at 100.23, peaking at 100.30. Spot gold closed at $1,695.82 an ounce, down 0.32 percent. U.S. stocks ended lower, with the dow down 109.33 points, or 0.4 percent.

On Tuesday, focus on the non-quarterly core U.S. consumer price index and comments from federal reserve officials kashkari, bullard, haq, quarles and mester.

Fx: euro/dollar at 1.0806; Sterling/dollar closed at 1.2332; The Australian dollar closed at 0.6488 against the U.S. dollar. The dollar was at 107.66 yen; Us dollar/Canadian dollar at 1.4002; The dollar was at 0.9727 Swiss francs.

Commodities: spot gold closed at $1,695.82 an ounce; Comex gold ended the day at $1698.00 an ounce; Spot silver settled at $15.47 an ounce; Comex silver futures closed at $15.680 an ounce; Brent crude settled at $29.63 a barrel; NYMEX crude closed at $24.14 a barrel.

In the currency market

Euro: as the dollar turned higher, the euro fell, or 0.31%, to 1.0806. On the technical side, the pivot point of the currency pair is at 1.0818, the initial resistance to the upward movement of the exchange rate is at 1.0836, the further resistance is at 1.0868, and the key resistance is at 1.0886. The initial support for the fall in the exchange rate is at 1.0786, further support at 1.0768, more key support at 1.0736.

Sterling: the pound fell against the dollar for the first time in three days, down 0.60 percent at 1.2332. Technically, the pivot point of the currency pair is at 1.2350. The initial resistance to the upward movement of the exchange rate is at 1.2416, further resistance is at 1.2504, and the key resistance is at 1.2571. The initial support for the decline of the exchange rate is at 1.2261, further support is at 1.2195, more critical support is at 1.2107.

Yen: dollar/yen rose for the third day in a row, up 0.95% to 107.66. On the technical level, the pivot point of the currency pair is at 107.30, the initial resistance to the upward movement of the exchange rate is at 108.12, the further resistance is at 108.59, and the key resistance is at 109.41. The initial support for the decline of the exchange rate is at 106.82, further support is at 106.01, more critical support is at 105.53.

The stock market

U.S. and European stocks: technology stocks rose on top of recent strong gains, as investors increased bets that the U.S. economy will soon restart. On Monday, however, U.S. stocks were mixed on fears that a premature economic restart could lead to the second wave of COVID-19: the tech-heavy NASDAQ rose 0.7%, or 71.02 points, to 9,192.34, its longest winning streak since December. The NASDAQ is up 2.4% this year, just 6% below its record high in February. The s&p 500 rose 0.39 points to 2,930.19, after falling as much as 0.9 percent during the session. Since hitting an intraday low on March 23, the s&p 500 has gained more than 33 percent. It gained 3.5 percent last week. The dow Jones industrial average fell 109.33 points, or 0.4%, to 24,221.99.

The lifting of lockdowns across Europe continues, but European stocks fell on Monday amid fears that a premature economic restart could lead to a second wave of covid-19. The pan-european stoxx 600 index closed down 1.35 points, or 0.40 percent, at 339.70, led by shares in basic resources, down 2.5 percent. Germany’s DAX index closed down 80.98 points, or 0.74 percent, at 10823.50. Britain’s ftse 100 index closed up 5.87 points, or 0.10 per cent, at 5,941.85. France’s cac-40 index closed down 59.42 points, or 1.31%, at 4490.22. Spain’s IBEX35 index closed down 107.10 points, or 1.58 percent, at 6676.00. Italy’s ftse closed down 51.80 points, or 0.30 per cent, at 17387.50. The stoxx Europe 50 index closed down 23.76 points, or 0.82%, at 2884.35.

The bond market

States and countries around the world have started to relax and preventive measures, but investors worry that the new crown increased cases of infection may lead to blockade the continuation, economic efforts to restart a tradeoff, Treasury yields rose on Monday, the benchmark 10-year us Treasury yields rose 4 basis points, to about 0.720%, the 30-year Treasury bond yields rose to 1.424%.

Commodity markets

International spot gold opened at $1702.40 an ounce on Monday morning, rising as high as $1712.30 an ounce and dipping as low as $1690.95 an ounce, down $5.36, or 0.32 percent, to $1695.82 an ounce.

COMEX June gold futures ended 0.9 percent lower at $1,688.00 an ounce.

New crown outbreak is hitting the White House, and in those countries gradually lift the blockade, seems to have been a wave of new infections, also in the economy to recover, demand for oil shows concern again, oil prices on Monday (May 11) closed down: American WTI crude oil futures fell in June 60 cents, or 2.4%, to $24.14 a barrel. Crude stocks at Cushing, Oklahoma, hit an intraday high of $25.59 a barrel after market intelligence firm Genscape reported a 1.8 million barrel decline. WTI rose 25 percent last week; Brent crude for July delivery fell $1.24, or 4 percent, to $29.63 a barrel. It hit an intraday high of $31.45 a barrel after Saudi energy minister Abdulaziz bin Salman announced plans to cut another million barrels a day.

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