Financial Markets Daily

The U.S. tightened restrictions on Chinese company Huawei further on Monday, with 38 of its subsidiaries listed as entities. U.S. stocks hit a record high, while the dollar index fell broadly. Spot gold surged 2 percent, briefly touching $1,990.

In the currency market

Euro: The euro rose for the fifth day in a row to close at $1.1870, up 0.24%. Technically, the pivot point of the currency is at 1.1858, the initial resistance to its upward movement is at 1.1888, the further resistance is at 1.1911, and the key resistance is at 1.1941. The initial support is at 1.1836, further support is at 1.1806, and more critical support is at 1.1783.

Sterling: Rose for the third day in a row to close 0.14% higher at $1.3102. Technically, the pivot point of the currency is at 1.3099, the initial resistance to the upward movement of the exchange rate is at 1.3125, further resistance is at 1.3147, and the key resistance is at 1.3173. The initial support is at 1.3077, further support is at 1.3051, and more critical support is at 1.3028.

Yen: DOLLAR/jPY fell for a second day, closing down 0.56% to 105.99. Technically, the pivot point of the currency is at 106.19, the initial resistance to its upward movement is at 106.44, the further resistance is at 106.90, and the key resistance is at 107.16. The initial support for the lower exchange rate is at 105.73, further support is at 105.48, and more critical support is at 105.02.

The stock market

New York (Ap) — Stocks were mixed Monday on falling VOLUME in an S&P 500 fund and lingering concerns about the Novel Coronavirus stimulus bill. The S&P 500 rose 0.3% to 3,381.99. The Nasdaq Composite index rose 1% to an all-time high of 11,129.73. The Dow Jones Industrial Average fell 85 points, or about 0.3%, to 27,844.91.

Madrid (Marketwatch) – European stocks closed lower on Monday (Aug. 17) amid heightened geopolitical tensions and investor concerns about novel Coronavirus proliferation. The Pan-European Stoxx 600 index closed up 1.50 points, or 0.41%, at 369.57. Basic resources stocks were up about 1.6%, while travel and leisure stocks were down about 1.5%. Germany’s DAX index closed up 19.32 points, or 0.15%, at 12,920.66. Britain’s FTSE 100 index closed up 37.40 points, or 0.612%, at 6,127.44. The Cac-40 index in France closed up 9.01 points, or 0.18%, at 4,971.94. Spain’s IBEX35 index closed down 67.30 points, or 0.94 percent, at 7087.00. Italy’s FTSE index closed down 77.79 points, or 0.39%, at 19,950.32. In Europe, the Stoxx 50 index closed up 0.90 points, or 0.03%, at 3,305.95.

Commodity markets

Spot gold closed at $1984.79 an ounce, up $41.12, or 2.12 percent. On the day, spot gold hit as high as $1990.40 an ounce and as low as $1929.07 an ounce, fluctuating by more than $60.

Gold futures in New York had their biggest one-day gain in four months: COMEX Gold futures for December delivery closed up 2.5% at $1998.70 an ounce.

Oil prices closed higher Monday on strong housing data from the National Association of Home Construction Companies and reports that China may be buying large volumes of U.S. crude, easing recent concerns about strong global demand. U.S. WTI crude for September delivery rose 88 cents, or 2.1 percent, to $42.89 a barrel. Brent crude for October delivery rose 57 cents, or 1.4 percent, to $45.37 a barrel.

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