Financial markets daily

In the currency market

EUR: The euro fell against the dollar for the first time in four days, closing at 1.1967, down 0.10%. Technically, initial upside resistance stands at 1.1987, further resistance at 1.2009, key resistance at 1.2024; Initial downside support at 1.1949, further support at 1.1934 and more critical support at 1.1912.

GBP: Sterling rose for a fourth straight day to close at 1.3786, up 0.09% against the dollar. Technically, initial upside resistance stands at 1.3808, further resistance at 1.3832, key resistance at 1.3855; Initial downside support is placed at 1.3760, further support at 1.3737 and more critical support at 1.3713.

JPY: The dollar fell for a fourth straight day to 108.72 yen, down 0.19%. Technically, initial upside resistance stands at 108.94, further resistance at 109.13, key resistance at 109.31; Initial downside support at 108.58, further support at 108.41 and more critical support at 108.22.

The stock market

The three major U.S. stock indexes rose on Thursday after March retail sales data and weekly jobless claims came in well above market expectations, as the coronavirus epidemic eased and stimulus measures faded. By the close of trading, the Dow was up 305.16 points, or 0.90 per cent, at a record 34,036.05, the first time it has crossed 34,000. The S&P 500 rose 44.64 points, or 1.08 percent, to 4169.30, also a record high. The Nasdaq closed up 180.92 points, or 1.31 percent, at 14,038.76.

LONDON (Marketplace) — European stock markets closed higher on Thursday as investors digested a fresh round of corporate earnings, with Germany’s DAX30 index hitting a record closing high, while Spain’s IBEX35 index bucked the trend. The pan-European Stoxx 600 index closed up 1.98 points, or 0.45 percent, at 438.55, led by miners, up 1.5 percent. Germany’s DAX30 index rose 46.18 points, or 0.30%, to 15,255.33, a record closing high, breaking its April 9 close. The FTSE 100 closed up 43.92 points, or 0.63 per cent, at 6,983.50, within touching distance of the close of 7,042.47 reached on February 26 last year. The French CAC-40 index (FR: CAC-40) ended up 25.56 points, or 0.41 percent, at 6,234.14. The Euro Stoxx 50 index closed up 17.77 points, or 0.45 percent, at 3,994.05. Spain’s IBEX35 index ended down 11.40 points, or 0.13%, at 8577.00. Italy’s FTSE MIB index closed down 46.05 points, or 0.19 per cent, at 24,528.69.

Commodity markets

Spot gold settled at $1,763.95 an ounce, up $27.52, or 1.58 percent, after hitting its highest since Feb. 26 at $1,769.66 and as low as $1,734.22.

COMEX gold futures for June delivery rose $30.50, the biggest one-day dollar gain since March 9, or 1.8 percent, to settle at $1,766.80 an ounce, the highest close for a major contract since Feb. 25.

U.S. retail sales rose 9.8 percent in March from a month earlier, the highest level in 10 months, as businesses reopened to boost hiring and consumers were encouraged by a new round of economic stimulus. Major economies are recovering from the outbreak, and the International Energy Agency and others raised their oil demand forecasts in the previous session. On Thursday, two major crude oil futures extended this week’s gains. U.S. WTI crude for May delivery settled at 31 cents, or 0.49%, at $63.46 a barrel at press time. Brent crude for June delivery settled up 36 cents, or 0.54 percent, at $66.94 a barrel.

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