Financial markets daily

In the currency market

EUR: The euro gained for the third day in a row against the dollar to close at 1.1979, up 0.26%. Technically, initial upside resistance stands at 1.1995, further resistance at 1.2012, key resistance at 1.2038; Initial downside support at 1.1953, further support at 1.1928 and more critical support at 1.1911.

GBP: Sterling rose for a third straight day against the dollar to close at 1.3774, up 0.19%. Technically, initial upside resistance stands at 1.3804, further resistance at 1.3837, key resistance at 1.3866; Initial downside support at 1.3742, further support at 1.3713 and more critical support at 1.3681.

JPY: USD/JPY fell for the third day in a row to close at 108.93, down 0.11%. Technically, initial upside resistance stands at 109.10, further resistance at 109.27, key resistance at 109.45; Initial downside support at 108.76, further support at 108.57 and more critical support at 108.41.

The stock market

JPMorgan Chase and Goldman Sachs both beat earnings expectations in the first quarter of the year, helped by their investment banking and trading businesses. Morecom also announced a $520 million release from loan-loss reserves as the economic outlook improved. Wall Street analysts expect a strong economic backdrop and consumer spending to drive a sharp rise in earnings from a year ago. The S&P 500 financial sector was one of the best performers in the first quarter, despite the Fed’s pledge to keep interest rates low for some time. The three major U.S. stock indexes diverged on Wednesday. At the close, the Dow was up 53.62 points, or 0.16 percent, at 33,730.89. At one point, it climbed more than 200 points to an all-time high. The S&P 500 closed down 16.93 points, or 0.41 percent, at 4, 124.66 after hitting an all-time high earlier in the day. The Nasdaq closed down 138.23 points, or 0.99%, at 13,857.84.

LONDON (MarketWatch) — European stock markets closed higher on Wednesday, with only Germany’s DAX30 index ending lower as investors continued to focus on corporate earnings and progress on vaccine coverage. The pan-European Stoxx 600 index closed 0.82 points higher, or 0.19%, at 436.57, with travel and leisure shares up 1.3% and utilities down 0.7%. Germany’s DAX30 index ended down 25.21 points, or 0.17 percent, at 15,209.15. The FTSE 100 index ended up 49.09 points, or 0.71%, at 6,939.58. The French cac 40 index closed up 24.48 points, or 0.40%, at 6208.58. The Euro Stoxx 50 index ended up 9.66 points, or 0.24 percent, at 3,976.65. Spain’s IBEX35 index closed up 57.90 points, or 0.68 percent, at 8,583.00. In Italy, the FTSE MIB index closed down 25.61 points, or 0.10%, at 24,574.74.

Commodity markets

Spot gold settled at $1,736.43 an ounce, down $9.09, or 0.52 percent, from an intraday high of $1,749.38 and a low of $1,732.45.

COMEX gold futures for June delivery ended down about 0.7 percent at $1,736.30 an ounce.

Stimulated by multiple positive news, two major crude oil futures extended this week’s gains. U.S. WTI crude for May delivery rose $2.97, or 4.93%, to settle at $63.15 a barrel, the highest since March 18. Brent crude for June delivery rose $2.91, or 4.57 percent, to settle at $66.34 a barrel, the highest since March 18.

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