Financial markets daily

In the currency market

EUR: The euro rose for a second day in a row against the dollar to close at 1.2124, up 0.30%. Technically, initial upside resistance stands at 1.2154, further resistance at 1.2183, key resistance at 1.2233; Initial downside support at 1.2075, further support at 1.2026 and more critical support at 1.1996.

GBP: Sterling rose for a fourth straight day against the dollar to close at 1.3935, up 0.18%. Technically, initial upside resistance stands at 1.3972, further resistance at 1.4006, key resistance at 1.4062; Initial downside support at 1.3881, further support at 1.3825 and more critical support at 1.3791.

JPY: USD/JPY fell for the first time in three days, closing 0.06% lower at 108.59. Technically, initial upside resistance stands at 108.92, further resistance at 109.25, key resistance at 109.43; Initial downside support at 108.41, further support at 108.23 and more critical support at 107.90.

The stock market

After the Fed announced that it would keep interest rates and bond purchases unchanged, Powell said that now was not the time for the Fed to talk about tapering. The news prompted the Dow to pare losses and the S&P to rise and break its peak above 4200. At the close, the Dow was down 162.25 points, or 0.48%, at 33,805.56. The S&P 500 fell 2.06 points, or 0.05%, to 4,184.66. The Nasdaq closed down 39.19 points, or 0.28%, at 14,051.03. The small-cap Russell 2000 index was a relative outperformer, rising about 0.1 per cent.

Wednesday (April 28) at 11 a.m. EST, the Federal Reserve announced its interest rate decision as scheduled. The Federal Reserve has refused to ease its easy money policy even as it acknowledges that the US economy is picking up speed. European markets ended the day mixed. The pan-European Stoxx 600 index closed close to flat at 439.92, with banks up 1.5%, led by Deutsche Bank AG, while industrials fell 0.7%. Germany’s DAX30 index closed up 42.91 points, or 0.28%, at 15,292.18. The FTSE 100 index closed 18.70 points, or 0.27%, higher at 6,963.67. France’s CAC-40 index ended up 33.22 points, or 0.53 percent, at 6,306.98. The Euro Stoxx 50 index ended up 2.64 points, or 0.07 percent, at 4,014.55. Spain’s IBEX35 index closed up 41.30 points, or 0.47 percent, at 8,798.00. In Italy, the FTSE MIB index closed down 13.49 points, or 0.06 percent, at 24,459.57.

Commodity markets

Spot gold settled at $1781.68 an ounce, up $5.08, or 0.29 percent, from an intraday high of $1782.59 and a low of $1762.52.

COMEX gold for June delivery settled down 0.3 percent at $1,773.90 an ounce.

Two major crude oil futures extended gains in the previous session on Wednesday. U.S. WTI crude for June delivery settled up 92 cents, or 1.46 percent, at $63.86 a barrel at press time. Brent crude for July delivery ended up 85 cents, or 1.28 percent, at $67.27 a barrel.

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