Daily market analysis by NordFX

[Julia NordFX]

Russia Gave Markets Green Light

On Wednesday, the world’s financial markets closed mainly on the rise as compared to the closing rates of the previous trading day. As such, In Europe the British FTSE 100 grew 0.65 percent up to 6,873.58 points, the German DAX advanced 1.26 percent up to 9,626.49 points, and the French CAC 40 gained 0.99 percent finishing trading at 4,421.87 points.

On the Russian floor, the MICEX index hiked up by 3.49 percent getting to 1,449.29 points while the RTS index shot up by 5.20 percent to 1,239.23 points.

In the USA, the Dow Jones Industrial Average grew 0.06 percent up to 17,078.28 points, the Standard & Poor's 500 shed 0.08 percent closing at 2,000.72 points, and the NASDAQ Composite fell 0.56 percent down to 4,572.57 points.

The NYMEX price of WTI oil futures for October rose by $2.66 reaching $95.54 a barrel. On London’s ICE, the price of October Brent oil futures went up by $2.43 and made $102.77 a barrel.

The rates rise was triggered by reports that the presidents of Russia and Ukraine sat down at the negotiating table and had had a prior agreement on a ceasefire in Ukraine. This can be conducive to an economic recovery in the region.

On the Forex market, the situation remains unchanged, though – EUR/USD is holding around yesterday’s marks.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Dollar Rising Swiftly

On Thursday, world financial markets posted mixed results. With that, European indices went up in light of changing relations between Russia and Ukraine – the British FTSE 100 grew 0.06 percent up to 6,877.97 points, the German DAX advanced 1.02 percent up to 9,724.26 points but the French CAC 40 fell 1.65 percent down to 4,494.94 points.

Besides, yesterday the ECB lowered its base interest rate to 0.05% and announced it would launch a quantitative easing program this October, which also had a positive impact on investors’ sentiments and index dynamics.

In Russia, indices responded to the news of a truce in Ukraine as well – the MICEX grew 0.56 percent up to 1,457.34 points, and the RTS index gained 0.18 percent ending up at 1,241.51 points.

In the USA, on the contrary, indices closed in the red zone – the Dow Jones Industrial Average dropped 0.05 percent down to 17,069.58 points, the Standard & Poor's 500 shed 0.15 percent finishing at 1,997.65 points, and the NASDAQ Composite fell 0.22 percent down to 4,562.29 points.

On London’s ICE Futures, the price of October Brent oil futures went down by $0.94 reaching $101.83 a barrel. On the New York Mercantile Exchange, the price of the October WTI oil future got lower by $1.09 stopping at $94.45 a barrel.

At the same time on Forex, the dollar went up sharply against other currencies. The EUR/USD pair arrived at the rates of July 2013. With such serious movement, the pair can easily go down to 1.2850.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Dollar Moves Up, Indices Down

At the beginning of the week, the world’s financial markets closed mainly with a slump due to reports about new sanctions planned by the European Union against Russia. In Europe, in particular, Germany’s DAX 30 grew 0.11 percent up to 9,758.03 points, France’s CAC 40 fell 0.30 percent down to 4,474.93 points while Britain’s FTSE 100 also shed 0.30 percent finishing trading at 6,834.77 points.

On the Russian floor, the MICEX index fell 0.67 percent down to 1,464.76 points and the RTS index – 0.93 percent down to 1,245.53 points.

In the USA, the Dow Jones Industrial Average dropped 0.15 percent down to 17,111.42 points, the Standard & Poor's 500 shed 0.31 percent closing at 2,000.54 points whereas the NASDAQ Composite advanced 0.20 percent up to 4,592.29 points.

On London’s ICE Futures, October Brent oil futures went down by $0.62 reaching $100.20 a barrel. On the New York Mercantile Exchange, the price of October WTI oil futures got lower by $0.63 stopping at $92.66 a barrel.

On the global currency market, EUR/USD is very near 1.2850 already. After this, the pair should start an upward correction.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Closed Mixed

Yesterday financial markets closed mixed due to the fact that released reports had a specific impact on each separate market.

As such, European markets closed in the red – Germany’s DAX 30 fell 0.49 percent down to 9,710.70 points, France’s CAC 40 dropped 0.5 percent down to 4,452.37 points, and Britain’s FTSE 100 shed 0.08 percent finishing trading at 6,829 points. European investors’ sentiments were influenced by poll results in Scotland that showed that over 50% of Scots would vote for independence from the United Kingdom.

In Russia, thanks to a delay with EU sanctions, the MICEX index grew 0.23 percent up to 1,468.17 points and the RTS index – 0.09 percent up to 1,246.64 points.

There’s a slump on the US stock market as well, which has to do with reports that the Federal Reserve may raise the key interest rate sooner that it was expected. Trading resulted in the Dow Jones falling 0.57 percent down to 17,013.87 points, the NASDAQ shedding 0.87 percent down to 4,552.29 points and the S&P 500 BMI dropping 0.65 percent down to 1,988.44 points.

The NYMEX price of WTI oil futures for October rose by $0.09, up to $92.75 a barrel. On London’s ICE, the price of Brent oil futures went down by $1.04 and made $99.16 a barrel.

On Forex, EUR/USD is experiencing a correction upward. There’s no expressed trend in its movement so far.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Await a New Boost

Midweek the world’s financial markets closed mixed. In Europe, the British FTSE 100 grew 0.02 percent up to 6,830.11 points, the German DAX fell 0.11 percent down to 9,700.17 points, and the French CAC 40 shed 0.04 percent down to 4,450.79 points.

In Russia, the MICEX index grew 0.03 percent up to 1,468.55 points, and the RTS index advanced 0.61 percent up to 1,239.09 points.

In the United States, the Dow Jones Industrial Average added 0.32 percent making 17,068.71 points, the NASDAQ Composite gained 0.75 percent reaching 4,586.52 points, and the S&P 500 BMI grew 0.36 percent up to 1,995.69 points.

On the NYMEX, the price of October WTI oil futures fell by $1.08, down to $91.67 a barrel. On London’s ICE, the price of Brent oil futures went down by $1.12 and made $98.04 a barrel.

On the Forex market, EUR/USD is holding at about the same level.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Inopportune Time to Enter Market

On the last day of the previous trading week, the world’s financial markets closed mixed. As such in Europe, the British FTSE 100 grew 0.11 percent up to 6,806.96 points, the German DAX fell 0.41 percent down to 9,651.13 points whereas the French CAC 40 gained 0.02 percent finishing the trading session at 4,441.70 points.

On Russia’s stock exchange, the MICEX index added 0.61 percent closing at 1,458.52 points, and the RTS index grew 0.38 percent up to 1,213.27 points.

In the USA, the Dow Jones Industrial Average dropped 0.36 percent down to 16,987.51 points, the NASDAQ Composite advanced 0.53 percent up to 4,567.60 points, the S&P 500 BMI grew 0.6 percent up to 1,985.54 points.

Oil prices dropped below $100 a barrel – the NYMEX price of October WTI oil futures went down by $0.56 making $92.27 a barrel, while on London’s ICE, the October Brent oil future slumped by $0.97 and reached $97.11 a barrel.

On the Forex market, there are no changes for EUR/USD so far. The pair is experiencing an upward correction but its scale is unclear yet. On the one hand, the gap from September 25th hasn’t been closed to date, on the other hand, there’re still no grounds for the euro to go up. Thus, it’s risky to enter the market at this point.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Dollar at a Standstill

Yesterday world financial markets closed mainly in the black, except for European indices: Britain’s FTSE 100 fell 0.18 percent down to 6,792.24 points, Germany’s DAX dropped 0.28 percent down to 9,632.93 points, and France’s CAC 40 shed 0.44 percent reaching 4,409.15 points.

On the Russian floor, the MICEX index grew 1.59 percent finishing trading at 1,477.31 points while the RTS index advanced 0.61 percent up to 1,202 points.

American indices are on the rise too – the Dow Jones Industrial Average gained 0.59 percent going up to 17,131.97 points, the NASDAQ Composite grew 0.75 percent up to 4,552.76 points, and the S&P 500 BMI also advanced 0.75 percent up to 1,998.98 points.

In light of OPEC announcements about a possible decrease of oil production in 2015, oil prices started to climb up – the NYMEX price of WTI oil futures for October went up by $1.96 at once making $94.88 a barrel while the London ICE saw the October Brent oil future go up by $1.17 and reach $99.05 a barrel.

On the Forex market, there’re no new developments with EUR/USD so far.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Dollar Continues to Rise

Yesterday world financial markets finished in a varied way. European equity trading resulted in the French CAC 40 growing 0.5 percent up to 4,431.41 points, the German DAX 30 gaining 0.3 percent up to 9,661.50 points but the British FTSE 100 falling 0.17 percent down to 6,780.90 points.

On the Russian floor, the MICEX index dropped 1.89 percent finishing trading at 1,449.37 points while the RTS index fell 0.99 percent down to 1,190.10 points.

In the USA, the Dow Jones added 0.59 percent reaching 17,131.97 points, the S&P 500 grew 0.75 percent up to 1,998.98 points, and the NASDAQ advanced на 0.75 percent up to 4,552.76 points.

On the NYMEX, the price of WTI oil futures for October went down by $0.46 making $94.42 a barrel. On London’s ICE, the October Brent oil future fell by $0.08 and made $98.97 a barrel.

The dollar started to go up again yesterday. Its target is 1.2780.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Market Tossing About

Yesterday world financial markets had no common trend once again. European markets finished trading on the rise – Germany’s DAX 30 grew 1.41 percent up to 9,798.13 points, France’s CAC 40 advanced 0.75 percent up to 4,464.70 points, and Britain’s FTSE 100 gained 0.57 percent closing at 6,819.29 points.

In Russia, the MICEX index fell another 0.05 percent finishing the day at 1,448.63 points, and the RTS index dropped 0.24 percent down to 1,187.24 points.

In the United States, the Dow Jones added 0.64 percent ending up at 17,266.06 points, the S&P 500 grew 0.49 percent up to 2,011.37 points while the NASDAQ picked up 0.68 percent closing at 4,593.43 points.

On the NYMEX, the price of WTI oil futures for October went down by $1.35 reaching $93.07 a barrel. On the London ICE, the price of Brent oil futures got lower by $1.27 and made $99.14 a barrel.

Last Wednesday, the US Federal Reserve kept the key interest rate at 0-0.25% per annum.

On the Forex market, EUR/USD is holding around 1.2930-1.2850 for now.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

No Major Changes for EUR/USD

Last Friday the world’s financial markets closed mixed. In Europe, the British FTSE 100 advanced 0.27 percent closing the day at 6,837.92 points, the German DAX grew 0.01 percent up to 9,799.26 points whereas the French CAC 40 fell 0.08 percent down to 4,461.22 points.

In Russia, the MICEX index dropped 1.18 percent down to 1,431.58 points and the RTS index – 1.43 percent down to 1,178.25 points.

In the USA, the Dow Jones Industrial Average grew 0.08 percent up to 17,279.74 points, the S&P 500 BMI shed 0.05 percent closing at 2,010.40 points while the NASDAQ Composite fell 0.3 percent down to 4,579.79 пункта.

The NYMEX price of WTI oil futures for October went down by $0.66 and finished Friday’s trading at $92.41 a barrel. On London’s ICE, the price of November futures for oil of mark Brent rose by $0.69 and made $98.39 a barrel.

On the Forex market, EUR/USD is still moving within the 1.2930-1.2850 range.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Negative Outlook for Chinese and EU Economies

Yesterday world equity markets closed in the red due to reports that China’s economy growth could slow down. There were no bright notes in ECB President Mario Draghi’s speech either – he highlighted an unacceptably high unemployment rate in the European Union and great geopolitical tensions around the globe.

As a result, Europe saw the British FTSE 100 fall 0.67 percent down to 6,773.63 points, the German DAX drop 0.51 percent down to 9,749.54 points and the French CAC 40 – 0.42 percent down to 4,442.55 points.

On the Russian floor, the MICEX index shed 1.31 percent reaching 1,412.83 points and the RTS index fell 1.63 percent ending up at 1,151.16 points.

In the USA, the Dow Jones dropped 0.62 percent down to 17,172.68 points, the S&P 500 declined by 0.80 percent down to 1,994.29 points, and the NASDAQ Composite fell 1.14 percent down to 4,527.69 points.

On the NYMEX, price quotations for October WTI oil futures went down by $0.89 finishing the trading session at $91.52 a barrel. On London’s ICE, the November Brent oil future went down by 1.42 and made $96.97 a barrel.

There’re no new developments on the Forex market.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Markets Are Up, So Is Dollar

Yesterday world financial markets closed in the green zone. European indices finished trading with the following results – Britain’s FTSE 100 grew 0.45 percent up to 6,706.27 points, Germany’s DAX advanced 0.7 percent up to 9,661.97 points, and France’s CAC 40 added 1.25 percent making 4,413.72 points.

In Russia, the MICEX index grew 0.87 percent up to 1,441.83 points and the RTS index – 1.88 percent up to 1,189.23 points.

In the United States, the Dow Jones gained 0.91 percent up to 17,211.47 points, the S&P 500 – 0.79 percent up to 1,998.42 points and the NASDAQ – 1.03 percent closing at 4,555.22 points.

On the New York Mercantile Exchange, the price of WTI oil futures for November rose by $1.24 up to $92.80 a barrel. On London’s ICE, the price of November Brent oil futures went up by $0.10 making $96.82 a barrel.

On the global Forex market, the dollar reached the afore-mentioned level of 1.2780 against the euro and continues to go up. Now its target is 1.27.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

A New Slump

The rise of rates on world financial markets didn’t last long. Already yesterday indices closed in the red zone again. European trading resulted in Britain’s FTSE 100 falling 0.99 percent down to 6,639.71 points, Germany’s DAX shedding 1.57 percent down to 9,510.01 points and France’s CAC 40 dropping 1.32 percent down to 4,355.28 points.

In Russia, the MICEX index fell 0.40 percent down to 1,436.05 points and the RTS index – 1.15 percent down to 1,175.59 points.

On American floors, the Dow Jones slumped 1.54 percent finishing the trading session at 16,945.80 points, the S&P 500 BMI dropped 1.62 percent down to 1,965.99 points, and the NASDAQ Composite plunged 1.94 percent down to 4,466.75 points.

On the London ICE, the price of Brent oil futures for November rose by $0.05 making $97 a barrel. The NYMEX price of WTI oil futures for November went down by $0.27 reaching $92.53 a barrel.

On the global currency market, EUR/USD arrived at 1.27 yesterday. This is quite a strong support level – not only daily but also weekly. The pair may stop here.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Dollar Keeps Rising

Last Friday the world’s financial markets closed mixed. As such, in Europe the British FTSE 100 grew 0.28 percent up to 6,658.29 points, the German DAX fell 0.20 percent down to 9,490.55 points while the French CAC 40 advanced 0.91 percent up to 4,394.75 points.

In Russia, the MICEX index dropped 0.13 percent down to 1,434.20 points and the RTS index – 1.65 percent down to 1,156.15 points.

In the United States, the Dow Jones grew 0.99 percent up to 17,113.15 points, the S&P 500 gained 0.86 percent up to 1,982.85 points, and the NASDAQ added 1.02 percent reaching 4,512.19 points.

On the NYMEX, price quotations of WTI oil futures for November went up by $1.01 making $93.54 a barrel. On London’s ICE, the November Brent oil future finished trading at $97 a barrel.

On the global Forex market, EUR/USD closed below 1.27. Nonetheless, one can expect the pair to experience a correction in the range of the current rates.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Equity Plunged Considerably

Yesterday world financial markets closed with a slump. In Europe, the British FTSE 100 fell 0.04 percent down to 6,646.60 points, the German DAX dropped 0.71 percent down to 9,422.91 points, and the French CAC 40 shed 0.83 percent reaching 4,358.07 points.

In Russia, the MICEX index fell 1.81 percent down to 1,408.28 points, and the RTS index plunged 2.59 percent down to 1,126.21 points.

In the USA, the Dow Jones shed 0.24 percent making 17,071.28 points, the S&P 500 fell 0.25 percent down to 1,977.84 points while the NASDAQ dropped 0.14 percent down to 4,505.85 points.

On the NYMEX, price quotations of WTI oil futures for November rose by $1.03 and made $94.57 a barrel. On London’s ICE, the November Brent oil future went up by $0.20 and closed at $97.20 a barrel.

On the global currency market, EUR/USD’s fall slowed down yesterday. At this point, the earlier prediction for the pair stands.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Further Plunge on Markets

Yesterday world financial markets closed with a slump. In Europe, in particular, Britain’s FTSE 100 fell 1.69 percent down to 6,446.39 points, Germany’s DAX dropped 1.99 percent down to 9,195.68 points, and France’s CAC 40 plunged 2.81 percent reaching 4,242.67 points.

In Russia, the MICEX index fell 1.69 percent down to 1,376.35 points and the RTS index – 1.64 percent down to 1,095.11 points.

In the United States, the Dow Jones shed 0.02 percent getting down to 16,801.11 points, the S&P 500 closed at the previous rate of 1,946.16 points whereas the NASDAQ grew 0.18 percent up to 4,430.20 points.

The NYMEX price of WTI oil futures for November rose by $0.28 and made $91.01 a barrel. The ICE price of Brent oil futures for November delivery went down by $0.74 reaching $93.42 a barrel.

On the Forex market, the euro is also going down against the US dollar.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Slump Slowed Down

Last Friday the slump on the world’s financial markets slowed down, and indices finished trading with mixed results. In Europe, the British FTSE 100 grew 1.26 percent up to 6,527.91 points, the German DAX fell 1.99 percent down to 9,195.68 points while the French CAC 40 added 0.92 percent closing at 4,281.74 points.

In Russia, the MICEX index grew 0.6 percent up to 1,384.66 points whereas the RTS index fell 0.27 percent down to 1,092.12 points.

The US stock market closed on the up – the Dow Jones advanced 1.24 percent up to 17,009.69 points, the S&P 500 gained 1.12 percent up to 1,967.90 points, and the NASDAQ Composite finished trading at 4,475.62 points having gone up by 1.03 percent.

American investors’ sentiments were influenced by positive macroeconomic data – the number of new non-farm jobs in the USA increased by 248,000, which is higher than predicted, while the jobless rate dropped to 5.9% from 6.1%.

On Friday the commodities market saw a price plunge. The NYMEX price of WTI oil futures for November went down by $1.27 making $89.74 a barrel. The ICE price of Brent oil futures for November delivery fell by $1.11 reaching $92.31 a barrel.

On Forex, the dollar continues to go up against other major currencies. Now the next target for EUR/USD may become 1.24.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Price Plunge as Markets Closed

Yesterday world financial markets closed in the red zone due to concerns about deceleration in economic development and the IMF’s lowering of its outlook for global economic growth. The IMF expects the world’s economy to grow by 3.3% in 2014 and by 3.8% in 2015 whereas the previous forecast was 3.4% and 4% respectively.

In Europe, the British FTSE 100 fell 0.21 percent down to 6,482.24 points, the French CAC 40 dropped 0.97 percent down to 4,168.12 points, and the German DAX 30 shed 1 percent finishing the trading session at 8,995.33 points.

On the Russian floor, the MICEX index fell 1.69 percent down to 1,379.76 points, and the RTS index slumped by 2.19 percent closing at 1,082.59 points.

On US floors, the Dow Jones shed 1.60 percent down to 16,719.39, the S&P 500 dropped 1.51 percent down to 1,935.10 points while the NASDAQ fell 1.56 percent making 4,385.20 points in the end.

On the NYMEX, the WTI oil future for November went down sharply by $1.54 reaching $87.31 a barrel. The ICE price of Brent oil futures for November delivery got lower by $0.73 and made $91.38 a barrel.

On the Forex market, EUR/USD is on the rise. It’s worth mentioning that the gap from August 25th hasn’t been closed yet.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Further Slump on Markets

Yesterday world financial markets closed mainly with a decline of major indices. As such, in Europe, the British FTSE 100 fell 0.78 percent down to 6,431.85 points, the French CAC 40 shed 0.48 percent down to 4,148.08 points whereas the German DAX 30, on the contrary, grew 0.11 percent finishing the trading session at 9,005.02 points.

In Russia, the MICEX index advanced 0.33 percent up to 1,384.33 points and the RTS index – 0.57 percent up to 1,088.80 points.

In the USA, the Dow Jones fell 1.97 percent down to 16,659 points, the S&P 500 BMI slumped by 2.07 percent closing at 1,928 points, and the NASDAQ Composite dropped 2.02 percent down to 4,378 points.

Global oil prices went down to the lowest level in two years due to an increase of oil production by OPEC countries. The NYMEX price of WTI oil futures for November dropped by $1.54, down to $85.77 a barrel. On London’s ICE, the price of Brent oil futures for November delivery went down by $1.33 and closed at $90.05 a barrel.

On the Forex market, EUR/USD is lacking activity. The pair can start a prolonged correction in case there are no significant macroeconomic events.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Generalized Forex Forecast for October 2014

Dear colleagues,

In an attempt to hep facilitate your hard work in the field of Forex, I bring to your attention a summary table in which I collected the opinions of 35 analysts and leading world banks and broker companies as well as forecasts made based on most different methods of technical analysis (27 indicators and special programs).

Please note that I am not making my own forecasts but rather simply gathering together opinions of various sources on the upcoming movements of a few major pairs. I hope this information will help you set your goals for this month. Or, at least, save you from making wrong moves. In the near future, I plan to make these reviews not only monthly but also weekly.

I would be genuinely pleased if you do not just glance over the forecasts but also share your own information and opinions on this subject.

Roman Butko, NordFX