Daily market analysis by NordFX

[Julia NordFX]

Movement Started on Forex

Yesterday’s trading ended with mixed changes in major indices. As such, in Europe Germany’s DAX 30 was up by 0.06% and reached 7,966.12 points, France’s CAC 40 shed 0.1% down to 3,836.04 points while Britain’s FTSE 100 fell 0.45% and made 6,510.62 points.

On the Russian floor the MICEX index went down by 0.36% reaching 1,496.37 points and the RTS index – by 0.74% to 1,531.14 points.

The Dow Jones index grew 0.04% up to 14,455.28 points and thus renewed its record high set at the end of Tuesday’s trading. The index reaches its record peak already seven sessions in a row while overall it’s been on the up for consecutive nine sessions by now, which happened last in November 1996. The S&P 500 gained 0.13% reaching 1,554.52 points and coming less than 11 points short of its record high. The NASDAQ went up by 0.09% to 3,245.12 points.

On NYMEX the price of April WTI oil futures lowered by $0.02, down to $92.52 per barrel. On London’s ICE April Brent oil futures went down by $1.13 and made $108.52 per barrel.

Yesterday on the global Forex market EUR/USD started moving to the 1.2850 mark mentioned earlier. The pair can reach the said level this week already if the news backdrop is conducive.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Huge Gap on EUR/USD Opening

Last Friday world financial markets closed mixed. In Europe the British FTSE 100 shrank by 0.61% and made 6,489.65 points, the German DAX 30 fell 0.19% down to 8,042.85 points, and the French CAC 40 shed 0.71% reaching 3,744.03 points.

In Russia the MICEX index closed at 1,495.11 points and the RTS index – at 1,537.66 points.

In the USA the Dow Jones fell 0.17% down to 14,514.11 points, the NASDAQ shed 0.30% down to 3,249.07 points, and the S&P 500 went down by 0.16% reaching 1,560.70 points.

The price of April futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.86, up to $109.82 per barrel. The price of April WTI oil futures went up by $0.42, to $93.45 per barrel.

On the Forex market EUR/USD closed with a rise last Friday. However, today the pair opened with a gap of almost 170 points. The pair would still want to complete the technical picture by getting to 1.2850. Then again, such a huge gap has to be covered, and it remains unclear when the pair starts doing it. Therefore, one has to be very cautious while waiting for the 1.2850 mark to be reached.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Slump on Markets

Yesterday world financial markets finished with a slump in major indices. As such, in Europe the British FTSE 100 shed 0.27% and made 6,472.12 points, Germany’s DAX 30 shrank by 0.29% down to 8,019.06 points, and the French CAC 40 fell 0.35% reaching 3,844.03 points.

On Russia’s stock exchange, trading ended with the MICEX index going down by 2.16% to 1,462.82 points and the dollar-based RTS index falling 2.82% down to 1,494.3 points.

In the United States the Dow Jones was down 0.43% to 14,452.06 points, the S&P – 0.55% to 1,552.10 points while the Nasdaq shed 0.35% down to 3,237.59 points.

On NYMEX the price quotations for April WTI oil futures grew by $0.29 and made $93.74 per barrel. On London’s ICE May Brent oil futures went down by $0.31 and reached $109.51 per barrel.

One of the most tangible factors impacting trading was the recent announcement that the European Union had agreed to a 10 billion euro bailout for Cyprus, which could lead to the introduction of taxes on bank deposits in the country.

On Forex, EUR/USD hasn’t covered the gap yet nor reached the support level mentioned earlier.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Falling Again

By the end of Tuesday’s trading the world’s financial markets closed mainly in the red zone. Thus, in Europe the British FTSE 100 shed 0.67% and reached 6,414.69 points, the German DAX 30 contracted by 1.13% down to 7,920.34 points while the French CAC 40 fell 1.6% and made 3,764.29 points.

In Russia the MICEX index went down by 0.93% to 1,449.20 points and the RTS index fell 1.04% down to 1,478.82 points.

In the USA the Dow Jones index grew 0.03% up to 14,455.82 points, the NASDAQ shed 0.26% down to 3,229.10 points, and the S&P 500 fell 0.24% making 1,548.34 points.

The price of May futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $2.06, down to $107.45 per barrel. The price of April futures for light WTI oil went down by $1.58, to $92.16 per barrel.

Yesterday on the global Forex market the EUR/USD pair reached the 1.2850 support level mentioned before. Seeing how the daily candle closed, the fall may continue. However, Monday’s gap hasn’t been covered yet.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Growth on Markets Due to US Reports

Yesterday world financial markets closed in the green zone. As such, in Europe Britain’s FTSE 100 shed 0.19% and made 6,429.32 points, Germany’s DAX 30 gained 0.62% and reached 7,997.19 points while France’s CAC 40 grew 1.3% up to 3,824.75 points.

In Russia both indices advanced 0.7% — the MICEX index was at 1,459.03 points and the RTS index made 1,489.34 points.

In the USA the Dow Jones grew 0.39% up to 14,511.73 points, the NASDAQ advanced 0.78% reaching 3,254.19 points, and the S&P 500 was up 0.67% making 1,558.71 points.

The price of May futures for the North Sea petroleum mix of Brent Crude Oil rose by $1.27, up to $108.72 per barrel. The price of April WTI oil futures went up by $0.8, to $92.96 points.

Investors’ mood was uplifted by the US Federal Reserve’s decision to keep the interest rate at the record low level and continue with the stimulus measures for the US economy, as trading data indicate. Earlier Federal Reserve chairman Ben Bernanke pointed out that the US economy had improved over the past several months. He also said that the Federal Reserve planned to keep the interest rate at the same level until the jobless rate reached 6.5%, which is at 7.7% currently.

On Forex, EUR/USD is going up. Now its target is if not filling the gap then reaching 1.3030 at least.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Cyprus Doesn’t Let Markets Rest Easy

Last Friday the world’s financial markets ended mixed. In particular, in Europe Great Britain’s FTSE 100 grew 0.28% and made 6,406.10 points, Germany’s DAX 30 shed 0.16% and reached 7,919.77 points while the French CAC 40 climbed down by 0.02% to 3,773.92 points.

In Russia the MICEX index fell 1.22% down to 1,441.36 points and the RTS index – 1% down to 1,470.91 points.

In the USA the Dow Jones advanced 0.63% making 14,512.03 points, the NASDAQ gained 0.70% up to 3,245.00 points, and the S&P 500 grew 0.72% reaching 1,556.89 points.

The price of May futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.19, up to $107.66 per barrel. The price of May futures for light WTI oil went up by $1.26 or 1.4%, to $93.71 per barrel.

The situation in Cyprus is putting strain on markets. The biggest Cypriot bank – the Bank of Cyprus – is calling on the country’s government to tax deposits over 100,000 euro. This decision would be optimal considering the strong pressure on the country from Europe and Russia. Under the current circumstances, the S&P agency has adequately lowered Cyprus’ rating to CCC with a negative outlook. On Friday investors waited for the Cypriot government to vote on a new rescue plan for the country’s financial system. Cypriot politicians don’t have much time to reach an agreement as already on Monday, 25 March, the ECB is set to stop its emergency funding for the country’s banks unless a rescue program for the island’s banking sector is adopted in agreement with the EU and the IMF.

On Forex EUR/USD has reached interim resistance today. Now it’s worth waiting for further actions by major players.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

A Sigh of Relief for EU Member States

Yesterday world financial markets closed mainly on the rise. As such, in Europe the British FTSE 100 was up 0.21% and made 6,392.77 points, the German DAX 30 advanced 0.03% and reached 7,873.5 points while the French CAC 40 grew 0.6% up to 3,748.64 points.

In Russia, on the contrary, the MICEX index shed 0.8% down to 1,417 points and the RTS index – 0.91% down to 1,445.46 points.

In the USA the Dow Jones index grew 0.77% making 14,559.65 points, the NASDAQ advanced 0.53% up to 3,252.48 points, and the S&P 500 was up 0.78% reaching 1,563.77 points.

On London’s IntercontinentalExchange May Brent oil futures went up by $1.19, closing at $109.36 per barrel. On NYMEX the price of May futures contracts for WTI oil rose by $1.53, up to $96.34 per barrel.

On Tuesday Benoit Kere, a member of the ECB executive board, said that the possibility of levying Cypriot bank deposits wasn’t typical and the solution for Cyprus wouldn’t be used for other countries. Effectively he refuted the statement by Euro Group President Jeroen Dijsselbloem who on Monday called Cyprus’ agreement with the lenders a rescue model for other eurozone countries’ banks.

On Forex the euro sharply dropped against the dollar. Today the pair will have a go at the 1.2853 support. One should wait and see what impact macroeconomic data will have on investors.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Clueless About Next Move

Yesterday the world’s financial markets finished mixed. Thus, in Europe the British FTSE 100 shed 0.03% and made 6,397.66 points, the German DAX 30 fell 1.02% and reached 7,799 points while the French CAC 40 shrank by 1% down to 3,711.64 points.

In Russia the MICEX index grew 0.6% and got to 1,425 points, and the RTS index advanced 0.04% up to 1,446.04 points.

In the United States the Dow Jones Industrial index fell 0.23% down to 14,526.16 points, the NASDAQ grew 0.12% up to 3,256.52 points whereas the S&P 500 went down by 0.06% to 1,562.85 points.

On IntercontinentalExchange Futures Europe the official price of Brent oil rose by $0.33 and made $109.69 per barrel. On the New York Mercantile Exchange the price of WTI oil went up by $0.24 and reached $96.58 per barrel.

The downward index dynamic is linked to investors’ heightened cautiousness prior to Cyprus’ banks reopening 28 March. On Wednesday local mass media reported with reference to the Ministry of Finance order that as of Thursday there would be tight restrictions for bank transactions imposed in Cyprus for seven days. In particular, they include a limit on money allowed out of the country, a 5,000 euro cap on credit card transactions and a ban on premature withdrawal of fixed-term deposits.

On Forex EUR/USD closed below a strong support level of 1.2850. If the pair goes down further, its target will be 1.2660.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Closed Mixed Once More

On the last trading day of the previous week the world’s financial markets closed mixed. As such, in Europe the British FTSE 100 shrank by 1.15% down to 5,742.03 points, the German DAX 30 shed 1.77% making 6,985.15 points while the French CAC 40 fell 1.43% and reached 3,381.12 points.

In Russia the MICEX index grew 0.31% up to 1,438.57 points and the RTS index – 0.37% up to 1,460.04 points.

The price of May futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.33, up to $110.02 per barrel. The price of May futures for light WTI oil was up by $0.65 getting to $97.23 per barrel.

Last Thursday investors’ attention was drawn to the statements by S&P representative Mauritz Kraemer that Greece’s debts might be written off again. He also said that he didn’t know when that could happen.

On Forex EUR/USD is still at the 1.2770 support level. The pair lacks impetus for further movement.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Finished Mixed Again

Yesterday trading ended mixed once again. Thus, in Europe Britain’s FTSE 100 was up 0.38%, France’s CAC 40 grew 0.53% and Germany’s DAX 30 advanced 0.08%.

The Russian MICEX index shed 0.7% down to 1,428.47 points while the RTS index fell 0.99% and reached 1,445.57 points.

In the USA the Dow Jones went down by 0.04%, the S&P 500 fell 0.45% and the Nasdaq 100 shed 0.77%.

The price of May futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $1.15, up to $111.17 per barrel. The price of May futures for light WTI oil lowered by $0.16, down to $97.07 per barrel.

On the global currency market EUR/USD went up a little. The 1.2770 level turned out to be a strong support for it. Nevertheless, there’re even more obstacles above – 1.2850 and the short-term daily MA.



Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Slump on All Markets

Yesterday world financial markets closed with a slump. In Europe Germany’s DAX 30 fell 0.87% and reached 7,874.75 points, the French CAC 40 shed 1.32% down to 3,754.96 points while the British FTSE 100 shrank by 1.08% and made 6,420.28 points.

In Russia the MICEX index went down by 0.17% to 1,427.94 points, and the RTS index fell 0.98% down to 1,425.99 points.

In the USA the Dow Jones was down 0.76% and got to 14,550.35 points, the S&P 500 fell 1.05% making 1,553.69 points, the NASDAQ shed 1.11% and traded at 3,218.60 points.

On NYMEX the price quotations for May WTI oil futures lowered by $2.74, down to $94.45 per barrel. On London’s ICE May Brent oil futures were down by $3.58 and reached $107.11 per barrel.

On the Forex market EUR/USD is still within the same range as last Tuesday.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Friday’s Setback

On the last day of the previous trading week the world’s financial markets closed with a slump. As such, in Europe the British FTSE 100 shrank by 1.49% and made 6,249.78 points, the German DAX 30 shed 2.03% and reached 7,658.75 points while the French CAC 40 fell 1.68% down to 3,663.48 points.

In Russia the MICEX index shed 0.71% down to 1,416.69 points, and the RTS index fell 0.59% down to 1,411.09 points.

In the USA the Dow Jones was down 0.28% making 14,565.25 points, the NASDAQ went down by 0.65% to 3,203.86 points, and the S&P 500 fell 0.43% reaching 1,553.28 points.

The price of May futures for the North Sea petroleum mix of mark Bent Crude Oil lowered by $2.19, or 2.1%, down to $104.15 per barrel. The price of May WTI oil futures went down by $0.56, to $92.70 per barrel.

In March the number of jobs in the US non-farm sectors increased by 88,000 while the unemployment rate dropped to 7.6% from 7.7% in the month before. The data differed from the predictions – analysts assumed that the jobless rate would remain at the February level and the number of jobs would be up by 199,000.

On Forex EUR/USD couldn’t pass the 1.2770 mark and got to the long-term MA again. This is not at all far from 1.3074, the top boundary of the gap.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Euro Keeps Going Up

Yesterday the world’s financial markets saw major indices close mainly on the rise. As such, in Europe the British FTSE 100 grew 0.43% and made 6,276.94 points, the German DAX 30 advanced 0.05% up to 7,662.64 points while the French CAC 40 was up 0.09% and made 3,666.78 points.

The Russian MICEX index fell 0.57% down to 1,408.55 points whereas the RTS index gained 0.61% and reached 1,419.63 points.

In the United States the Dow Jones grew 0.33% up to 14,613.48 points, the S&P – 0.63% up to 1,563.07 points, and the NASDAQ – 0.57% up to 3,222.25 points.

On NYMEX, after a three-day fall, May WTI oil futures went up by $0.66, to $93.36 per barrel. On London’s ICE, after a four-day slump, May Brent oil futures were up $0.54 and made $104.66 per barrel.

The markets were up despite the US statistics showing that in March 2013 only 88,000 new jobs were created while analysts predicted a 190,000 increase in new jobs.

On Forex EUR/USD keeps going up bit by bit.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Closed Mixed

On Thursday the world’s financial floors saw major indices close mixed. In particular, in Europe the British FTSE 100 was up 0.45% and made 6,416.14 points, the German DAX 30 gained 0.78% and reached 7,871.63 points, the French CAC 40 grew 0.9% up to 3,775.66 points.

In Russia the MICEX index fell 1.67% down to 1,401.73 points and the RTS index – 1.43% down to 1,433.08 points.

In the USA the Dow Jones advanced 0.42% up to 14,865.14 points, the S&P – 0.36% up to 1,593.37 points and the Nasdaq – 0.09% up to 3,300.16 points.

On NYMEX the price quotations for May WTI oil futures lowered by $1.13, down to $93.51 per barrel. On London’s ICE May Brent oil futures went down by $1.52, to $104.27 per barrel.

Investors had somewhat contradictory feelings after the minutes of the last Federal Reserve meeting were published. They showed that some members of the Federal Open Market Committee find it necessary to reduce the asset buying programs in light of the improved economic situation in the country. However, Asian macroeconomic data had a negative impact – Australia experienced an unexpected unemployment hike while equally suddenly Japan’s rate of orders for cars and machinery exceeded expectations.

On the global Forex market EUR/USD has slightly moved away from the 1.3120 resistance level for now. With this, it’s not unlikely that the pair will try to charge it again next week.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Finished With a Slump

On the last day of the previous trading week the world’s stock markets closed in the red. As such, in Europe Britain’s FTSE 100 shrank by 0.52% and made 6,382.71 points, Germany’s DAX 30 shed 1.61% and reached 7,744.77 points while France’s CAC 40 fell 1.2% down to 3,729.3 points.

By the end of Friday’s trading in Russia the MICEX index shed 1.13% down to 1,385.54 points, and the RTS index fell 1.93% down to 1,405.47 points.

In the USA the Dow Jones was down 0.08 points making 14,865.06, the NASDAQ went down by 0.16% reaching 3,294.95 points, and the S&P 500 fell 0.28% down to 1,588.85 points.

The price of May futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $1.52, down to $104.27 per barrel. The price of May WTI oil futures dropped by $1.13, down to $93.51 per barrel.

Last Friday it became known that the IEA kept the forecast of global oil demand for 2013 at 90.6 million barrels per day. With that, according to the agency experts’ opinion, there’s a low level of economic activity in some of the key regions of the world. Due to this fact, the IEA lowered the outlook for global oil demand growth to 795,000 barrels per day from 820,000 forecast in March.

On Forex the situation hasn’t changed.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Further Slump

Yesterday world financial markets closed with a sheer fall again. Thus, in Europe the British FTSE 100 fell 0.64% and made 6,343,60 points, the German DAX 30 shed 0.41% down to 7,712.63 points, the French CAC 40 was down 0.50% and reached 3,710.48 points.

By the end of Monday trading the MICEX index went down by 1.89% to 1,359.69 points and the RTS index fell 2.77% down to 1,366.53 points.

The Dow Jones shed 1.79% down to 14,599.20 points, the S&P 500 crumbled down by 2.30% to 1,552.36 points and the Nasdaq Composite – by 2.38% to 3,216.49 points.

On NYMEX the price quotations of May WTI oil futures lowered by $2.58, down to $91.29 per barrel. June WTI oil futures finished trading at $89.03 per barrel. On London’s ICE Brent oil went down to $100.39 per barrel.

Investors’ pessimism was due to the slowdown of China’s GDP growth to 7.7% per annum in the first quarter of 2013 compared to the fourth quarter of 2012 when the figure was 7.9% per annum. Analysts predicted China’s GDP growth to be 8%.

On the Forex market the euro went down against the dollar a little. At this point the pair is between the short-term and long-term daily MA’s.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Undecided Once Again

On Tuesday world currency markets saw mixed trends of major indices once more. In particular, in Europe Britain’s FTSE 100 was down 0.51% and made 6,311.29 points, Germany’s DAX 30 fell 0.27% and reached 7,692.37 points, France’s CAC 40 shed 0.5% and traded at 3,692.06 points.

In Russia the MICEX index fell 0.54% down to 1,352.37 points while the RTS index went down by 0.74% to 1,356.35 points.

In the United State the Dow Jones was up 1.08% reaching 14,756.78 points, the NASDAQ gained 1.50% making 3,264.63 points, and the S&P 500 grew 1.43% up to 1,574.57 points.

The price of June futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $0.72, down to $99.91 per barrel. The price of May futures for light WTI oil rose by $0.01, up to $88.72 per barrel.

On Forex, EUR/USD has gone up sharply today after getting over a strong support level of 1.3120. In case of further growth, its next target will be 1.3275.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Price Crash

On Wednesday the world’s financial floors witnessed a considerable slump in major indices. Thus, in Europe the British FTSE 100 shrank by 0.96% and made 6,304.58 points, the German DAX 30 fell 2.34% and reached 7,503.03 points while the French CAC 40 shed 2.35% and traded at 3,599.23 points.

In Russia the MICEX index fell 1.22% down to 1,355.89 points and the RTS index went down by 2.12% to 1,327.92 points.

In the USA the Dow Jones shed 0.94% down to 14,618.59 points, the S&P fell 1.43% down to 1,552.01 points while the Nasdaq went down by 1.84% to 3,204.67 points.

On London’s ICE June Brent oil futures were down by $2.22 and made $97.69 per barrel. On NYMEX the price quotations of May WTI oil futures lowered by $2.04 and made $86.68 per barrel.

The slump on all the markets happened in light of the statements by President of the Deutsche Bundesbank Jens Weidmann who said that it might take a decade to overcome Europe’s debt crisis.

For the same reason the euro crashed against the dollar and once again ended up between the short-term and long-term daily MA’s. The pair needs a new impetus to decide on direction.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets in Disarray – Almost No Movement

Yesterday world stock indices closed with a slump again. As such, in Europe Britain’s FTSE 100 climbed down by 0.01% and made 6,243.67 points, Germany’s DAX 30 was down 0.39% and reached 7,473.73 points whereas France’s CAC 40 remained at 3,599.36 points.

By the end of trading in Russia the MICEX index fell 0.05% down to 1,335.21 points while the RTS index shed just 0.03% and made 1,327.54 points.

In the USA the Dow Jones index was down 0.56% reaching 14,537.10 points, the NASDAQ fell 1.20% down to 3,166.36 points, and the S&P 500 went down by 0.67% to 1,541.61 points.

On the New York Mercantile Exchange the price quotations of May WTI oil futures rose by $1.05 and made $87.73 per barrel. By the end of trading the price of June futures rose by $1.03, up to $88 per barrel. On London’s ICE June Brent oil futures went up by $1.44 and made $99.13 per barrel.

On the Forex market the situation is the same so far.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Still No Definite Trend for Forex Players

Last Friday world financial markets finished with a rise in major indices. As such, in Europe the British FTSE 100 was up 0.71% and made 6,287.82 points, the French CAC 40 grew 1.46% and reached 3,652.32 points whereas the German DAX 30 shed 0.11% down to 7,465.86 points.

In Russia Friday’s trading ended with the MICEX index going up by 0.24% to 1,338.43 points and the RTS index – by 0.66% to 1,336.27 points.

In the USA the Dow Jones advanced 0.07% up to 14,547.51 points, the NASDAQ gained 1.25% making 3,206.06 points, and the S&P 500 grew 0.88% reaching 1,555.12 points.

On NYMEX the price quotations of May WTI oil futures went up by $0.28 and made $88.01 per barrel. By the end of trading the price of June contracts rose by $0.27, up to $88.27 per barrel. On the London ICE June Brent oil futures were up by $0.52 and made $99.65 per barrel.

There’re no changes on the Forex market so far.

Anna Gorenkova
NordFX Analyst