Financial Markets Daily

In the currency market

Euro: The euro rose for the first time in five days to close 0.11% higher at 1.1671. Technically, the pivot point of the currency is at 1.1660, the initial resistance to the exchange rate upward is at 1.1695, further resistance is at 1.1721, and the key resistance is at 1.1756. The initial support is at 1.1634, further support is at 1.1599, and more critical support is at 1.1573.

Sterling: The pound rose against the DOLLAR for the first time in five days, closing 0.26 per cent higher at 1.2753. Technically, the pivot point of the currency is at 1.2737, the initial resistance to its upward movement is at 1.2785, further resistance is at 1.2828, and the key resistance is at 1.2876. The initial support is at 1.2694, further support is at 1.2646, and more critical support is at 1.2603.

Jpy: USDJPY gained for the fourth day in a row, closing up 0.04% at 105.40. Technically, the pivot point of the currency is at 105.37, the initial resistance to the upward movement of the exchange rate is at 105.54, further resistance is at 105.70, and the key resistance is at 105.87. The initial support for the lower exchange rate is at 105.21, further support is at 105.04, and more critical support is at 104.88.

The stock market

On Thursday, the labor Department reported an unexpected rise in new claims for jobless benefits last week and the prospect of a new bailout package, adding to concerns about an uncertain economic recovery, and the three major U.S. stock indexes could contract in late trading. The Dow Jones Industrial Average closed up 52.30 points, or 0.20%, at 26,815.44. The S&P 500 index closed up 9.70 points, or 0.30%, at 3,246.59. The Nasdaq closed up 39.30 points, or 0.37%, at 10,672.27.

London (Marketwatch) – European stocks closed lower on Thursday as investors’ hopes for a post-outbreak economic recovery were shaken by a second wave of the virus. The Pan-European Stoxx 600 index closed down 3.68 points, or 1.02 percent, at 355.85. Most sectors and major exchanges fell, led by retail stocks, which fell 2.2%. Germany’s DAX index closed down 36.40 points, or 0.29 percent, at 12,606.57. Britain’s FTSE 100 index closed down 76.48 points, or 1.30%, at 5,822.78. France’s CAC-40 index closed down 39.64 points, or 0.83%, at 4,762.62. Spain’s IBEX35 index closed down 10.80 points, or 0.16%, at 6,643.00. Italy’s FTSE index closed 23.06 points, or 0.12%, lower at 18,906.83. In Europe, the Stoxx 50 index closed down 19.96 points, or 0.63 percent, at 3,160.15.

Commodity markets

Spot gold closed at $1,867.26 an ounce, up $4.21, or 0.23 percent, after touching as low as $1,848.22 an ounce and as high as $1,877.00.

COMEX gold futures for December delivery closed up nearly 0.5 percent at $1,876.90 an ounce.

Markets are concerned that a renewed coVID-19 outbreak is slowing the economic recovery in the US, while a new surge in CoVID-19 cases in Europe has led to the reimposition of travel restrictions in several countries. Oil prices closed higher on Thursday after Iraq’s oil ministry denied it would get Opec + approval to expand exports. U.S. WTI crude for November delivery was up 72 cents, or 1.80 percent, at $40.31 a barrel. Brent crude for November delivery ended up 20 cents, or 0.47 percent, at $42.46 a barrel.

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