Daily summary: Optimism did not last long

• For most of today's session we could see positive sentiment in the stock market

• The U.S. labor market report released today came out well, and despite the fact that it speaks in favor of further policy tightening by the Fed, stock indices moved strongly upward  

•  In the late afternoon, however, news broke that the Nord Stream pipeline "maintenance" has been extended, causing gas supplies to be completely halted, which changed market sentiment

• As we can see, the topic of a potential energy crisis remains in the foreground

• The major stock indices reacted with a solid retreat, the German stock index contract plunged more than 200 points to the downside, and all the gains made on Wall Street were wiped out

• The reaction can also be seen in the currency market, where the euro suffered. Although EURUSD quotes tried to stay above parity today, so the current price is about 70 pips below today's peak

• Due to the fact that the Gazprom reports came after the close of the European session, the major stock indices from the Old Continent closed the week high (although they may face huge downward gaps after the weekend if gas supplies are not restored)

• Germany's DAX gained as much as 3.33% today, France's CAC40 added 2.21%, and London's FTSE closed the day 1.86% higher

• Precious metals scored a good session. Gold, palladium and platinum gained about 1%, while silver is trading 1.5% higher

•  Cryptocurrencies, on the other hand, like the indices started the day with an upward movement, nevertheless the last hours bring a change in sentiment and a pullback

Gold quotes have reached important resistance stemming from the 1:1 geometry and the EMA100 average. Source: xStation5