Financial markets daily

Last session market review

The dollar index fell sharply on Monday, extending its decline to a low of 99.57 on the day. Meanwhile, spot gold plunged nearly $38 after hitting a high of $1,765.10 an ounce. Separately, U.S. stocks and crude oil rose hand in hand, with the s&p 500 closing at a 10-week high and crude oil at its highest close since March 11.

Fx: euro/dollar at 1.0912; Sterling/dollar closed at 1.2196; The Australian dollar closed at 0.6524. The dollar was at 107.31 yen; Us dollar/Canadian dollar at 1.3934; The dollar was at 0.9709 Swiss francs.

Commodities: spot gold closed at $1,731.72 an ounce; Comex gold ended at $1,734.40 an ounce; Spot silver settled at $16.94 an ounce; Comex silver futures closed at $17.468 an ounce; Brent crude closed at $34.81 a barrel; NYMEX crude closed at $31.82 a barrel.

In the currency market

Euro: the euro rose for a second day, or 0.90%, to 1.0912. On the technical level, the pivot point of the currency pair is at 1.0879, the initial resistance to the upward movement of the exchange rate is at 1.0963, the further resistance is at 1.1010, and the key resistance is at 1.1093. The initial support for the fall in the exchange rate is at 1.0832, further support at 1.0749, more key support at 1.0702.

Sterling: the pound rose against the dollar for the first time in six days, up 0.76 percent at 1.2196. On the technical side, the pivot point of the currency pair is at 1.2165, the initial resistance to the upward movement of the exchange rate is at 1.2255, the further resistance is at 1.2317, and the key resistance is at 1.2407. The initial support for the decline of the exchange rate is at 1.2103, further support is at 1.2013, more critical support is at 1.1951.

Yen: dollar/yen turned higher to close at 107.31, up 0.27%. Technically, the pivot point of the currency pair is at 107.28, the initial resistance to the upward movement of the exchange rate is at 107.51, the further resistance is at 107.73, and the key resistance is at 107.96. The initial support for the decline of the exchange rate is at 107.07, further support is at 106.84, more critical support is at 106.62.

The stock market

U.S. and European stocks: U.S. stocks rose sharply on Monday, with the s&p 500 closing at a 10-week high on encouraging data from an early trial of a vaccine and promises by governments of more stimulus measures to boost the economy. The dow Jones industrial average rose 911.95 points, or 3.85 percent, to 24,597.37. The s&p 500 was up 90.21 points, or 3.15 percent, at 2,953.91. The nasdaq was up 220.27 points, or 2.44 percent, at 9,234.83. The s&p 500 posted its biggest one-day percentage gain since April 8, with all 11 major sectors Posting gains.

European stocks posted their biggest one-day gain in nearly eight weeks on Monday as hopes of a faster economic recovery were boosted by the easing of a government blockade and encouraging developments against a novel coronavirus vaccine. European mining stocks jumped 8 percent, leading gains across the region, while autos, oil and gas and leisure travel stocks, which are typically tied to the state of the global economy, rose between 6.5 percent and 7.9 percent. The pan-european STOXX 600 index surged 4.1 percent, its biggest one-day percentage gain since March 24.

Commodity markets

In early U.S. trading, spot gold fell about $38 to a new session low of $1,764.79 an ounce, after hitting a high of $1,764.80 an ounce since October 2012. Spot gold rebounded from its low to close at $1,731.72 an ounce, down $9.66, or 0.55 percent.

COMEX June gold futures were down about 1.3 percent at $1,734.40 an ounce.

International oil prices closed at their highest level in more than two months on Monday, extending their recent upward momentum as investors grew more confident that supply and demand were starting to improve. U.S. WTI crude for June delivery ended up $2.39, or 8.1 percent, at $31.82 a barrel, the highest close since March 11 and up 19 percent last week. Brent crude for July delivery closed up $2.31, or 7.1 percent, at $34.81 a barrel, also the highest close since March 11 and up 4.9 percent last week.

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