Financial Markets Daily

In the currency market

Euro: The euro rose for the first time in three days to close 0.26 percent higher at $1.1847. Technically, the pivot point of the currency is at 1.1812, the initial resistance to the upward movement is at 1.1887, the further resistance is at 1.1927, and the key resistance is at 1.2002. The initial support for the lower exchange rate is at 1.1772, further support is at 1.1696, and more critical support is at 1.1656.

Sterling: rose for the fourth day in a row to close at 1.2972, up 0.07%. Technically, the pivot point of the currency is at 1.2944, the initial resistance to its upward movement is at 1.3024, further resistance is at 1.3078, and the key resistance is at 1.3158. The initial support is at 1.2890, further support is at 1.2810, and more critical support is at 1.2756.

Yen: USD/JPY fell for the fourth day in a row to close at 104.73, down 0.21%. Technically, the pivot point of the currency is at 104.80, the initial resistance to its upward movement is at 105.09, the further resistance is at 105.45, and the key resistance is at 105.74. Initial support for the lower exchange rate is at 104.44, further support is at 104.15, and more critical support is at 103.79.

The stock market

Shares of major technology companies faced fresh selling pressure on Thursday, as conflicting news about the Novel Coronavirus vaccine and uncertainty over further stimulus measures further weighed on sentiment. The Dow Jones Industrial Average closed down 130.40 points, or 0.5%, at 27901.98, snapping a four-day winning streak. The S&P 500 fell 0.8 percent, or 28.48 points, to 3,357.01. The Nasdaq Composite index fell 1.3 per cent, or 140.19 points, to 10,910.28 after falling back into correction territory at one point, leaving it down 10 per cent from its all-time high.

London (Marketwatch) – European stocks ended lower Thursday as investors reacted to the latest series of central bank meetings. The Pan-European Stoxx 600 index closed up 1.9 points, or 0.51%, at 371.23. Banks led the way, falling 1.5 per cent, with almost all sectors and major markets in the red. Germany’s DAX index closed down 48.97 points, or 0.37%, at 13,206.40. Britain’s FTSE 100 index closed down 28.18 points, or 0.46%, at 6,050.30. France’s CAC-40 index closed down 34.92 points, or 0.69 percent, at 5,039.50. Spain’s IBEX35 index closed down 25.80 points, or 0.36 percent, at 7085.00. Italy’s FTSE index closed down 228.49 points, or 1.14%, at 19,735.50. In Europe, the Stoxx 50 index closed down 23.19 points, or 0.69 percent, at 3315.65.

Commodity markets

Spot gold closed at $1,943.81 an ounce, down $14.88, or 0.76 percent, after hitting an intraday low of $1,932.36 an ounce and an intraday high of $1961.01.

COMEX gold for December delivery ended down nearly 1.1 percent at $1,949.90 an ounce.

Oil prices closed higher in volatile trading Thursday at the meeting of Opec and the Joint Ministerial Monitoring Committee (JMMC). U.S. WTI crude for October delivery closed up 81 cents, or 2 percent, at $40.97 a barrel. Brent crude for November delivery ended up $1.21, or 2.9 percent, at $43.43 a barrel. Combined with gains in the past two sessions, WTI crude has risen more than 10% this week, offsetting losses of 13% over the past two weeks, and cloth oil is up 8.7% for the week.

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