Financial Markets Daily

A market review of the previous session

On Monday (June 8) want to drive the recovery, U.S. stocks on Monday also closed higher, nasdaq 9900 for the first time in history, a plate with its record closing, in the first three major U.S. stock indexes to confirm a new bull market, the dollar suffered a decline in profits, and commodity currencies rise, gold for bargain hunting, finally closed at slightly below the 1700 mark.

The session will focus on the euro zone’s final GDP and employment figures for the first quarter, U.S. wholesale sales for April, API crude oil inventory changes, and the EIA’s monthly short-term energy outlook.

Forex: EUR/USD at 1.1295; GBP/USD at 1.2723; Australian dollar/US $0.7015; Usd/JPY closed at 108.42; Usd/Cad closed at 1.3382; The dollar closed at 0.9574 Swiss franc.

Commodities: Spot gold at $1,697.62 an ounce; Gold futures at $1705.10 an ounce on Comex. Spot silver closed at $17.77 an ounce; Silver futures closed at $17.893 an ounce on Comex. Brent crude was at $40.75 a barrel. NYMEX crude closed at $38.19 a barrel.

In the currency market

Euro: EurUSD turned higher, closing 0.10% higher at 1.1295. Technically, the pivot point of the currency pair is at 1.1294, the initial resistance to the exchange rate upward is at 1.1320, further resistance is at 1.1345, and the key resistance is at 1.1371. The initial support is at 1.1268, further support is at 1.1242, and more critical support is at 1.1216.

Sterling: rose for the eighth day in a row to close at $1.2723, up 0.47%. Technically, the pivot point of the currency pair is at 1.2695, the initial resistance to the upward movement of the exchange rate is at 1.2762, further resistance is at 1.2803, and the key resistance is at 1.2870. The initial support is at 1.2654, further support is at 1.2587, and more critical support is at 1.2546.

Yen: The dollar fell against the yen for the first time in five days, closing down 1.06% at 108.42 yen. Technically, the pivot point of the currency pair is at 108.78, the initial resistance to the upward movement of the exchange rate is at 109.33, further resistance is at 110.24, and the key resistance is at 110.79. Initial support for the lower exchange rate is at 107.87, further support is at 107.32, and more critical support is at 106.40.

The stock market

U.S. and European stocks: U.S. stocks closed sharply higher Monday as traders grew more optimistic about the prospects for an economic recovery and as U.S. states continued to open. The S&P 500 rose 1.2%, or 38.46 points, to 3,232.39, regaining all of its losses since 2020 after rebounding about 47% from its March low. The Dow Jones Industrial Average rose 461.46 points, or 1.7%, to 27,572.44, trimming its 2020 loss to 3.3%. The Nasdaq Composite index rose 1.1%, or 110.66, to 9,924.74, extending its record run to 10.6% for the year.

London (Marketwatch) – European stocks edged lower On Monday as investors weighed the economic recovery from a new global pandemic and protests against racial discrimination and violent law enforcement. The Pan-European Stoxx 600 index closed down 1.20 points, or 0.32%, at 374.12. Germany’s DAX index closed down 29.53 points, or 0.23%, at 12,818.15. Britain’s FTSE 100 index closed down 15.47 points, or 0.24%, at 6,468.83. The CAC40 index in France closed down 22.27 points, or 0.43%, at 5,175.52. Spain’s IBEX35 index closed up 23.40 points, or 0.30%, at 7896.00. Italy’s FTSE closed up 42.99 points, or 0.21%, at 20,230.50. In Europe, the Stoxx 50 index closed down 15.94 points, or 0.47%, at 3,368.35.

The bond market

In the bond market, U.S. Treasury yields were little changed on Monday after surging last week, with the benchmark 10-year yield flat at 0.9019 percent and the 30-year yield edging up to 1.6819 percent.

Commodity markets

Spot gold rose as high as $1,784.39 an ounce in early Asian trading on Monday, and dipped as low as $1,677.03, up 12.39 dollars, or 0.74 percent, to settle at $1,697.62 an ounce.

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