Financial Markets Daily

In the currency market

Euro: Rose for a second day, or 0.28%, to close at $1.1936. Technically, the pivot point of the currency is at 1.1928, the initial resistance to the exchange rate upward is at 1.1973, the further resistance is at 1.2010, and the key resistance is at 1.2055. Initial support for the lower exchange rate is at 1.1891, further support at 1.1846, and more critical support at 1.1809.

Sterling: Gained for the second day in a row to end at 1.3363, up 0.10%. Technically, the pivot point of the currency is at 1.3354, the initial resistance to its upward movement is at 1.3408, the further resistance is at 1.3449, and the key resistance is at 1.3502. The initial support is at 1.3313, further support is at 1.3259, and more critical support is at 1.3218.

Yen: Usd/JPY turned higher, closing up 0.54% at 105.91. Technically, the pivot point of the currency is at 105.73, the initial resistance to its upward movement is at 106.24, the further resistance is at 106.60, and the key resistance is at 107.11. Initial support for the lower exchange rate is at 105.38, further support is at 104.87, and more critical support is at 104.51.

The stock market

New York (Ap) — U.S. stocks were mixed Monday, with the Dow Jones Industrial Average down 223.82 points, or 0.8%, to 28,430.05. The S&P 500 fell 0.2% to 3,500.31. The Nasdaq composite index outperformed the broader market, rising 0.7% to 11,775.46.

London (Marketwatch) – European stocks closed lower on Monday after a strong start to the day as traders weighed on corporate news and signs of benign MONETARY policy in the United States. European stocks rose 2.8 per cent in August, according to Reuters data. British markets were closed Monday for a public holiday. Germany’s DAX30 index closed down 87.82 points, or 0.67 percent, at 12,945.38. The CAC40 index in France closed down 55.72 points, or 1.11 percent, at 4,947.22. In Europe, the Stoxx 50 index closed down 41.59 points, or 1.25 percent, at 3,273.95. Spain’s IBEX35 index closed down 160.00 points, or 2.24%, at 6,973.00. Italy’s FTSE MIB index closed down 207.32 points, or 1.04%, at 19,633.69.

Commodity markets

Spot gold closed at $196.38 an ounce, up $2.87, or 0.15 percent. On the day, spot gold touched as high as $1976.20 an ounce and as low as $1954.15.

Gold futures for December delivery on the COMEX rose 0.2 percent to $1,788.60 an ounce, down 0.4 percent for August.

Oil prices edged lower Monday, paring their gains for the month as traders continued to weigh the outlook for demand and Opec production cuts in the wake of the storm. Brent crude for November delivery fell 53 cents, or 1.2 percent, to $45.28 a barrel. Dow Jones Market data showed WTI prices up 5.8 percent this month, the fourth consecutive monthly gain.

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