Financial Markets Daily

In the currency market

Euro: Rose for the second day in a row to close at $1.1767, up 0.42%. On the technical level, the initial resistance to the upward movement of the exchange rate is at 1.1806, the further resistance is at 1.1845, and the key resistance is at 1.1898. The initial support is at 1.1715, further support is at 1.1663, and more critical support is at 1.1624.

Sterling: gained for the second day in a row to close at 1.2944, up 0.24%. On the technical side, the initial resistance to the exchange rate upward is at 1.3014, further resistance is at 1.3086, and the key resistance is at 1.3148. Initial support for the lower exchange rate is at 1.2879, further support at 1.2817, and more critical support at 1.2745.

Yen: DOLLAR/yen fell for a second day, closing down 0.01% at 105.39 yen. Technically, the initial resistance to the exchange rate upward is at 105.49, further resistance is at 105.60, and the key resistance is at 105.69. Initial support for the lower exchange rate is at 105.28, further support is at 105.18, and more critical support is at 105.07.

The stock market

With Democrats setting a 48-hour deadline for talks on a new stimulus package, the market believes there is little chance of a bailout deal between Congress and the White House before the November 3 election. Since then repeatedly fell back, the tail extended to 400 points. At the close, the Dow Jones Industrial Average was down 410.90 points, or 1.44%, at 28195.42. The S&P 500 closed down 56.90 points, or 1.63%, at 3426.92. The Nasdaq Composite index closed down 192.70 points, or 1.65%, at 11478.88.

European stocks ended lower on Monday as lingering fears over the coVID-19 outbreak offset hopes for a U.S. stimulus package in coming weeks. The Pan-European Stoxx 600 index closed down 1.04 points, or 0.28%, at 366.44. Chemical stocks led the way, falling 0.9%, while financial services stocks rose 1%. Germany’s DAX30 index closed down 54.33 points, or 0.42%, at 12,854.66. Britain’s FTSE 100 index closed 34.93 points, or 0.59%, lower at 5,884.65. The CAC-40 index in France closed down 5.88 points, or 0.12%, at 4,929.98. In Europe, the Stoxx 50 index closed down 4.02 points, or 0.12 percent, at 3,241.45. Spain’s IBEX35 index closed up 3.30 points, or 0.05 percent, at 6,853.00. Italy’s FTSE MIB index closed down 15.47 points, or 0.08%, at 19, 374.21.

Commodity markets

Spot gold closed at $1,903.89 an ounce, up $4.76, or 0.25 percent, after hitting an intraday high of $1,918.21 an ounce and a low of $1,899.49.

Gold futures for December delivery on the COMEX rose 0.3 percent to $1,911.70 an ounce.

Beijing time Monday (19 October), late + Opec oil producers oversight council ministerial meeting (JMMC) blockbuster hits, before this, investors choose to take profits, and it was reported that the main emerging market countries in the third-quarter economic growth is not expected so fast, highlights the global will be coronavirus infection surge in the demand of the world’s largest oil importer worries, closed slightly lower oil prices. U.S. WTI crude for November delivery closed down 5 cents, or 0.12 percent, at $40.83 a barrel at press time. Brent crude for December delivery ended down 31 cents, or 0.72 percent, at $42.62 a barrel. Last week, U.S. oil finished up about 0.7 percent, while U.S. oil finished up about 0.2 percent.

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