Financial Markets Daily

In the currency market

Euro: The euro fell against the dollar for a second day, closing 0.57% lower at 1.1744. Technically, the initial resistance to the upward movement of the exchange rate is at 1.1795, further resistance is at 1.1848, and key resistance is at 1.1881. The initial support is at 1.1710, further support is at 1.1677, and more critical support is at 1.1624.

Sterling: The pound fell against the DOLLAR for the first time in five days, closing down 0.98% at 1.2934. Technically, the initial resistance to the exchange rate upward is at 1.3023, further resistance is at 1.3118, and the key resistance is at 1.3170. Initial support for the lower exchange rate is at 1.2877, further support at 1.2825, and more critical support at 1.2730.

Yen: The dollar gained for the first time in three days to end at 105.46 yen, up 0.13 percent. Technically, the initial resistance to the exchange rate upward is at 105.64, further resistance is at 105.82, and the key resistance is at 106.02. The initial support for the lower exchange rate is at 105.26, the further support is at 105.06, and the more critical support is at 104.88.

The stock market

Bank stocks kicked off the earnings season on Tuesday, sending the Dow Jones Industrial Average down nearly 100 points in a narrow trading range. Apple shares fell more than 3.5% at the start of the session and the Dow Jones Industrial Average fell more than 200 points before recovering late in the session. The Dow Jones Industrial Average closed down 157.70 points, or 0.55%, at 28679.81, snapping a four-session winning streak. The S&P 500 ended down 22.30 points, or 0.63%, at 3,511.93. The Nasdaq Composite index closed down 12.40 points, or 0.10%, at 11,863.90.

Germany’s DAX30 index closed down 125.81 points, or 0.96 percent, at 1,3012.60 on Tuesday. Britain’s FTSE 100 index closed 30.78 points, or 0.51%, lower at 5,970.60. The CAC40 index in France closed down 31.68 points, or 0.64%, at 4,947.61.

Commodity markets

Spot gold closed at $1,890.62 an ounce, down $31.36, or 1.63 percent, before falling sharply after hitting an intraday high of $1,925.10 an ounce and setting a new session low of $1,886.21.

COMEX Gold for December delivery ended down 1.8 percent at $1,894.60 an ounce.

Tuesday, Oct. 13, reversed the previous session’s losses. November WTI crude closed up 77 cents, or 1.95%, at $40.20 a barrel. Brent crude for December delivery closed up 73 cents, or 1.75 percent, at $42.45 a barrel. Still, the International Energy Agency’s forecast of a 5 percent drop in global energy demand by 2020 as supplies start to recover from Norway, the US Gulf of Mexico, and Libya, and The suspension of clinical trials of coronavirus candidate vaccines announced by Johnson & Johnson and Eli Lilly & Company on the same day, all capped the upside. It closed down $1.17, or 2.88 percent, at $39.43 a barrel. Cloth oil fell $1.13, or 2.64 percent, to $41.72 a barrel.

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