Financial Markets Daily

In the currency market

Euro: The euro rose for the first time in three days to close at $1.1741, up 0.03%. Technically, the pivot point of the currency is at 1.1756, the initial resistance to its upward movement is at 1.1791, the further resistance is at 1.1842, and the key resistance is at 1.1876. Initial support for the lower exchange rate is at 1.1705, further support is at 1.1670 and more critical support is at 1.1619.

Sterling: Sterling turned lower against the DOLLAR, closing down 0.11% at 1.3048. Technically, the pivot point of the currency is at 1.3073, the initial resistance to the exchange rate upward is at 1.3104, further resistance is at 1.3163, and the key resistance is at 1.3195. The initial support is at 1.3014, further support is at 1.2982, and more critical support is at 1.2923.

Yen: Dollar/jPY rose for the third day in a row to end at 106.49, up 0.51%. Technically, the pivot point of the currency is at 106.35, the initial resistance to its upward movement is at 106.80, the further resistance is at 107.13, and the key resistance is at 107.58. Initial support for the lower exchange rate is at 106.03, further support is at 105.58, and more critical support is at 105.26.

The stock market

London (Marketwatch) – European stocks rose on Tuesday as hopes for a U.S. economic stimulus package outweighed concerns about U.S. growth amid rising geopolitical tensions between China and the United States. The Stoxx 600 index in Europe closed up 6.11 points, or 1.68%, at 370.76. Germany’s DAX index closed up 259.36 points, or 2.04 percent, at 12,946.89. Britain’s FTSE 100 index closed up 103.75 points, or 1.71%, at 6,154.34. The Cac-40 index in France closed up 118.48 points, or 2.41%, at 5,027.99. Spain’s IBEX35 index closed up 208.10 points, or 2.95%, at 7,262.00. Italy’s FTSE closed up 557.54 points, or 2.84%, at 20,209.11. The Stoxx 50 index in Europe closed up 72.04 points, or 2.21%, at 3,331.75.

New York (Ap) — Wall Street ended down Tuesday as some major technology stocks intensified at the close: the S&P 500 closed down 26.80 points, or 0.80%, at 3333.70. The S&P 500 posted its biggest one-day drop since July 23. Earlier in the day, the index was up 0.6%, just half a percentage point shy of its intraday high of 33,393.52 set on Feb. 19. The Nasdaq closed down 185.50 points, or 1.69 percent, at 10782.82. The Dow Jones Closed down 104.50 points, or 0.38%, at 27686.91.

Commodity markets

Spot gold closed at $1,911.54 an ounce, down $115.47, or 5.7 percent, its biggest one-day drop since June 2013. Spot gold fell as much as 6 percent on the day, down nearly $130 from the session high.

December gold futures on COMEX fell $93.40, or 4.6%, to $1,946.30 an ounce. COMEX gold futures lost $1,900 after the close, down 6% on the day.

Oil prices fell Tuesday, retreating from a five-month high, as concerns about weaker demand for crude resurfaced and the summer driving season came to an end. U.S. WTI crude for September fell 33 cents to $41.61. Brent crude for October delivery was down 37 cents at $44.64 a barrel.

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