Financial Markets Daily

Forex: EUR/USD at $1.1779; GBP/USD closed at 1.3032; Australian Dollar/US $0.7157; Usd/JPY closed at 106.92; Usd/Cad closed at 1.3240; The dollar closed at 0.9118 Swiss franc.

Commodities: Spot gold closed at $1,915.71 an ounce; Gold futures at $1949AN ounce on Comex; Spot silver closed at $25.47 an ounce. Silver futures closed at $25.979 an ounce on Comex. Brent crude closed at $45.45 a barrel. NYMEX crude closed at $42.70 a barrel.

In the currency market

Euro: Rose for the second day in a row, closing 0.32% higher at $1.1779. Technically, the pivot point of the currency is at 1.1768, the initial resistance to its upward movement is at 1.1826, the further resistance is at 1.1874, and the key resistance is at 1.1932. The initial support is at 1.1720, further support is at 1.1662, and more critical support is at 1.1614.

Sterling: Fell for the second day in a row, closing down 0.12 per cent at 1.3032. Technically, the pivot point of the currency is at 1.3035, the initial resistance to the exchange rate upward is at 1.3066, further resistance is at 1.3098, and the key resistance is at 1.3128. The initial support is at 1.3003, further support is at 1.2972, and more critical support is at 1.2940.

Jpy: DOLLAR/jPY rose for the fourth day in a row to close at 106.92, up 0.40%. Technically, the pivot point of the currency is at 106.78, the initial resistance to the upward movement of the exchange rate is at 107.12, further resistance is at 107.35, and the key resistance is at 107.70. Initial support for the lower exchange rate is at 105.55, further support is at 106.20, and more critical support is at 105.97.

The stock market

Major technology companies rallied after a sharp drop in the previous session, sending U.S. stocks sharply higher Wednesday. The S&P 500 closed up 46.70 points, or 1.40%, at 3,380.34. The Nasdaq closed up 229.40 points, or 2.13%, at 11012.24; The Dow Jones Industrial Average closed up 289.60 points, or 1.05 percent, at 27976.55.

London (Marketwatch) – European stocks closed higher on Wednesday as investors continued to bet on an imminent economic recovery from the crisis. The Stoxx 600 in Europe closed up 4.12 points, or 1.11%, at 374.88. Germany’s DAX index closed up 117.74 points, or 0.86%, at 13,058.63. The FTSE 100 index closed up 125.78 points, or 2.04 per cent, at 6,280.12. The Cac-40 index in France closed up 45.32 points, or 0.90%, at 5,073.31. Spain’s IBEX35 index closed up 30.50 points, or 0.42%, at 7,294.00. Italy’s FTSE closed up 228.25 points, or 1.13 per cent, at 20,437.36. In Europe, the Stoxx 50 index closed up 32.43 points, or 0.97%, at 3,364.55.

Commodity markets

Spot gold closed up $4.17, or 0.22 percent, at $1,915.71 an ounce, after closing up 5.7 percent, or more than $115 in the previous session, its biggest one-day drop since June 2013. On the day, spot gold hit as high as $1,948.90 an ounce and as low as $1,864.67, a move of more than $80.

COMEX Gold futures for December delivery closed up 0.1 percent at $1,949 an ounce.

Oil prices have been trading sideways over the past week on concerns about a sustained recovery in demand as the U.S. summer driving season draws to a close. Oil prices closed higher on Wednesday, rising 2.6 percent to $42.70 a barrel after a stronger-than-expected weekly supply and inventory drawdown overshadowed investors’ concerns about a fragile recovery in crude demand. Brent crude for October delivery was up 2.13 percent at $45.45 a barrel.

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