Financial markets daily

In the currency market

EUR: The euro fell against the dollar for the second day in a row to close at 1.2004, down 0.07%. Technically, initial upside resistance stands at 1.2025, further resistance at 1.2046, key resistance at 1.2066; Initial downside support at 1.1984, further support at 1.1964 and more critical support at 1.1943.

GBP: Sterling turned positive to close at 1.3904, up 0.12%. Technically, initial upside resistance stands at 1.3927, further resistance at 1.3952, key resistance at 1.3978; Initial downside support at 1.3877, further support at 1.3851 and more critical support at 1.3827.

JPY: USD/JPY turned lower to close at 109.18, down 0.15%. Technically, initial upside resistance stands at 109.39, further resistance at 109.61, key resistance at 109.74; Initial downside support at 109.05, further support at 108.92 and more critical support at 108.71.

The stock market

European stocks rebounded on Wednesday from losses in the previous session as investors digested a fresh round of corporate earnings and key economic data from the euro zone. The pan-European Stoxx 600 index closed up 7.90 points, or 1.82 percent, at 441.55. Basic resources stocks led the way, rising 3.2 per cent. Germany’s DAX30 index closed up 314.30 points, or 2.12%, at 15170.78. The FTSE 100 closed up 116.13 points, or 1.68%, at 7,039.30. France’s CAC-40 index (FR: CAC-40, + 1.40%) closed up 87.72 points, or 1.40%, at 6, 339.47. The Euro Stoxx 50 index closed up 78.00 points, or 1.99%, at 4003.55. Spain’s IBEX35 index closed up 150.30 points, or 1.70 percent, at 8,966.00. Italy’s FTSE MIB index closed 486.36 points higher, or 2.03 per cent, at 24,463.89.

NEW YORK (AP) — Stocks pared late-day gains Wednesday as declines in technology stocks offset earlier optimism about corporate earnings and economic data. Copper and timber prices climbed, adding to inflation fears. The five-year break-even rate, which reflects bond traders’ expectations of inflation, rose to its highest level since 2008. The Dow closed up 96.99 points, or 0.28%, at 34,230.02, a new closing high. The S&P 500 gained 3.80 points, or 0.09 percent, to 4,168.46. The Nasdaq closed down 51.08 points, or 0.37 percent, at 13,582.42.

Commodity markets

Spot gold settled at $1,786.87 an ounce, up $7.81, or 0.44 percent, from a low of $1,770.21 and a high of $1,788.05.

COMEX gold for June delivery ended up 0.5 percent at $1,784.30 an ounce.

A stronger dollar and the hawkish stance of U.S. Treasury Secretary Janet Yellen will not be enough to slow a rebound in oil prices as more U.S. states ease their blockade and the European Union seeks to ease tourist flows, which will help offset weak demand for fuel as India’s coronavirus worsens. The two major crude oil futures ended mixed on Wednesday. U.S. WTI crude for June delivery settled down 6 cents, or 0.09 percent, at $65.63 a barrel at press time. Brent crude for July delivery settled up 8 cents, or 0.12 percent, at $68.96 a barrel.

Leave a Reply

Your email address will not be published. Required fields are marked *