Financial markets daily

In the currency market

EUR: EUR/USD turned positive to close at 1.1910, up 0.09%. Technically, initial upside resistance stands at 1.1929, further resistance at 1.1948, key resistance at 1.1977; Initial downside support at 1.1881, further support at 1.1852 and more critical support at 1.1833.

GBP: GBP rose against the dollar for the first time in five days, closing 0.20% higher at 1.3734. Technically, initial upside resistance stands at 1.3784, further resistance at 1.3834, key resistance at 1.3892; Initial downside support at 1.3676, further support at 1.3618 and more critical support at 1.3568.

JPY: USD/JPY turned lower to close at 109.38, down 0.26%. Technically, initial upside resistance stands at 109.67, further resistance at 109.98, key resistance at 110.20; Initial downside support at 109.14, further support at 108.92 and more critical support at 108.61.

The stock market

President Joe Biden heads to Congress on Monday to try to rally bipartisan support for his $2 trillion infrastructure bill, while holding an online meeting with businesses about a chip shortage. U.S. stocks ended mixed as trading resumed light ahead of the closely watched March consumer price index and first-quarter corporate earnings reports. At the close, the Dow was down 54.74 points, or 0.16 percent, at 33,745.86. The S&P 500 rose 0.23 point, or 0.01%, to 4,129.03 after hitting another intraday record. The Nasdaq closed down 50.19 points, or 0.36 percent, at 13,850.00.

The global stock market rally took a break after hitting record highs last week, with European stocks mostly in the red on Monday, with Italy’s FTSE MIB index ending slightly higher. The pan-European Stoxx 600 index closed down 1.99 points, or 0.46 percent, at 435.24, led by technology stocks, down 1.3 percent. Germany’s DAX30 index closed down 19.16 points, or 0.13%, at 15,215.00. The FTSE 100 closed down 26.63 points, or 0.39%, at 6,889.12. France’s CAC-40 index ended 7.73 points, or 0.13 percent, lower at 6,161.68. The Euro Stoxx 50 index ended down 17.09 points, or 0.43 percent, at 3,961.75. Spain’s IBEX35 index closed down 33.80 points, or 0.39%, at 8532.00. Italy’s FTSE MIB index closed up 27.77 points, or 0.11 per cent, at 24,457.18.

Commodity markets

Spot gold settled at $1,732.76 an ounce, down $11.12, or 0.64 percent, from an intraday high of $1,745.02 and a low of $1,727.21. Spot gold closed up $14.57, or 0.84 percent, last week.

COMEX gold for June delivery closed down 0.7 percent at $1,732.70 an ounce.

Both major crude oil futures closed higher on Monday. U.S. WTI crude for May delivery settled up 38 cents, or 0.64 percent, at $59.70 a barrel. Brent crude for June delivery settled up 33 cents, or 0.52 percent, at $63.28 a barrel.

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