In the currency market
Euro: EurUSD turned higher, closing 0.29% higher at 1.1664. Technically, the pivot point of the currency is at 1.1652, the initial resistance to its upward movement is at 1.1690, further resistance is at 1.1717, and the key resistance is at 1.1756. Initial support for the lower exchange rate is at 1.1625, further support is at 1.1587, and more critical support is at 1.1560.
Sterling: Sterling turned higher against the DOLLAR, gaining 0.69% to close at $1.2833. Technically, the pivot point of the currency is at 1.2835, the initial resistance to its upward movement is at 1.2921, further resistance is at 1.3014, and the key resistance is at 1.3100. Initial support for the lower exchange rate is at 1.2742, further support at 1.2656, and more critical support at 1.2562.
Yen: UsdJPY turned lower, closing down 0.09% at 105.50. Technically, the pivot point of the currency is at 105.46, the initial resistance to the upward movement of the exchange rate is at 105.67, the further resistance is at 105.89, and the key resistance is at 106.10. Initial support for the lower exchange rate is at 105.24, further support is at 105.03, and more critical support is at 104.80.
The stock market
New York (Ap) — U.S. stocks surged Monday, helped by strong gains in the previous session, as investors held out hope for a new fiscal stimulus package and several pending mergers and acquisitions boosted the market. The Dow Jones Industrial Average closed up 410.10 points, or 1.5%, at 27,584.06. The S&P 500 rose 1.6 per cent to 3,351.60. The Nasdaq Composite index rose 1.9% to 11,117.53. Both the Dow and the S&P 500 had their best performances since Sept. 9.
European stocks rebounded Monday from their worst week since mid-June as investors focused on a rise in global coronavirus cases and the political situation in the United States. The Pan-European Stoxx 600 index closed up 8.29 points, or 2.33 percent, at 363.80. Among them, the banking sector rose 5%, led by all sectors and major stock markets closed higher. Germany’s DAX index closed up 401.67 points, or 3.22%, at 12,870.87. Britain’s FTSE 100 index closed up 85.26 points, or 1.46%, at 5,927.93. The Cac-40 index in France closed up 113.61 points, or 2.40 percent, at 4,843.27. Spain’s IBEX35 index closed up 163.70 points, or 2.46%, at 6,791.50. Italy’s FTSE ended up 461.74 points, or 2.47%, at 19160.10. In Europe, the Stoxx 50 index closed up 88.79 points, or 2.83%, at 3,225.85.
Spot gold closed at $1,880.21 an ounce, up 19.18 dollars, or 1.03 percent, after touching as low as $1,848.81 an ounce and as high as $1,882.80.
Gold futures for December delivery on the COMEX rose 0.9 percent to $1,882.30 an ounce.
Concerns grew about the impact of regional conflicts on supply and optimism that a deal on another round of stimulus spending could still be reached before the election. Oil prices closed higher on Monday. WTI crude futures rose 35 cents, or 0.87 percent, to $40.60 a barrel. Brent crude futures rose 51 cents, or 1.22 percent, to $42.32 a barrel.