Financial Markets Daily

New York (AP) — Wall Street closed higher Wednesday, with the S&P 500 and the Nasdaq setting new closing records for a fourth straight day as traders bet the Fed’s comments would boost inflation expectations, the dollar edged lower and gold surged more than $20 to break through the 1950 level.

The session will focus on the Jackson Hole annual meeting of the world’s central Banks, Powell speech heavy.

In the currency market

Euro: EurUSD turned lower, closing down 0.03% at 1.1829. Technically, the pivot point of the currency is at 1.1813, the initial resistance to the upward movement of the exchange rate is at 1.1854, further resistance is at 1.1880, and the key resistance is at 1.1921. Initial support for the lower exchange rate is at 1.1787, further support is at 1.1746, and more critical support is at 1.1719.

Sterling: rose for the second day in a row to close at 1.3208, up 0.44%. Technically, the pivot point of the currency is at 1.3181, the initial resistance to the upward movement is at 1.3247, the further resistance is at 1.3284, and the key resistance is at 1.3349. The initial support is at 1.3144, further support is at 1.3079, and more critical support is at 1.3042.

Yen: USD/JPY fell for the first time in four days, closing down 0.37% at 105.98. Technically, the pivot point of the currency is at 106.16, the initial resistance to its upward movement is at 106.37, the further resistance is at 106.76, and the key resistance is at 106.97. Initial support for the lower exchange rate is at 105.77, further support is at 105.56, and more critical support is at 105.16.

The stock market

London (Marketwatch) – European stocks closed higher on Wednesday on optimism about U.S. -China trade and a key speech by Federal Reserve Chairman Jerome Powell. The Stoxx 600 index in Europe closed up 3.37 points, or 0.91 percent, at 373.12. Germany’s DAX index closed up 128.53 points, or 0.98%, at 13,190.15. The FTSE 100 index closed up 8.59 points, or 0.14%, at 6045.60. The Cac-40 index in France closed up 40.16 points, or 0.80%, at 5,048.43. Spain’s IBEX35 index closed up 14.60 points, or 0.21%, at 7,123.00. Italy’s FTSE closed up 107.24 points, or 0.54%, at 20,1737.29. In Europe, the Stoxx 50 index closed up 26.74 points, or 0.80%, at 3,356.45.

On Wednesday, there was another positive news on the development of the coVID-19 vaccine, with strong gains in technology stocks, which helped push all U.S. stocks higher. The S&P 500 index closed up 35.10 points, or 1.02%, at 3,478.73. The Nasdaq was up 198.60, or 1.73 percent, at 11,665.06. Dow Jones Industrial Average rose 83.50 points, or 0.30%, to 28,331.92.

Commodity markets

Spot gold closed at $1953.15 an ounce, up $25.34, or 1.31 percent. On the day, spot gold hit as high as $19,54.56 an ounce and as low as $1,902.22, a swing of more than $50.

COMEX gold for December delivery ended up 1.5 percent at $192.50 an ounce, its highest close in a week.

On Wednesday (August 26), the American petroleum institute and the United States energy information administration, according to data released last week, crude oil inventories have dropped sharply, together with two storms swept across the Gulf of Mexico to influence demand, leading to more refinery, oil prices on the day of closing quotation or mutual now: the United States in October WTI crude oil futures closed up 4 cents, to $43.39 a barrel. Brent crude for November delivery was down 22 cents at $45.64 a barrel.

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