Daily market analysis by NordFX

[Julia NordFX]

Generalized Forex Forecast for 23-27 March 2015

Summing up in a table the opinions of 35 analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, we had to introduce some changes. If you look at the analysts’ opinions row in the table, along with the symbols of upward, sideways and downward trends, you will find a new one – open hands. As you can imagine, this indicates those analysts who are at a total loss and don’t know what to say. This group is quite large (around 30%) but there are still a few desperate predictors whose opinions we take into account when compiling our forecasts. Therefore:

- despite EUR/USD’s rebound last week, the pair’s main trend of the last few months remains as is – down to 1.0000. (By the way, the downstream channel with all possible fluctuations is very clear on the H4 chart). The short-term upward trend may continue all the way to 1.0915-1.1040at the start of the week, after which everything should return to normal;

- the GBP/USD pair is expected to fluctuate again just like EUR/USD while at the same time moving in a sideways corridor between 1.4700 and 1.5000 under bearish influence;

- unlike the Brit, the USD/JPY pair will, on the contrary, strive upwards and try to regain last week’s losses, the nearest target being 121.20. With this, neither the indicators nor the analysts rule out that over the first day or two the pair will still continue to fall;

- judging by the indicators, the forecast for USD/CHF is as follows: at first (but not for long) strictly downwards and then strictly upwards, back to the coveted mark of 1.0000. Considering that the transfer of Friday’s indications to Monday is not that wise, it is possible that the pair will turn around and move upwards straight away, from the first tick. The analysts in general support this.

As for last week’s forecast:
- the analysts’ predictions for EUR/USD’s tendency turned out to be right. They forecast that the pair would rebound upwards to 1.1000-1.1200. Truth be told, the pair didn’t reach this level after all, although at its peak the rebound made almost 600 points;

- regarding the GBP/USD pair, we predicted that the proud Brit will continue to trail the Euro. Just have a look at last week’s charts;

- the USD/JPY pair didn’t meet our expectations. As predicted, the first half of the week it stayed in a lulling sideways trend within the narrow range of 121.140-121.50 but on Wednesday evening’s news, instead of shooting upwards, it plunged breaking through the support around 120.65-120.80;

- as for USD/CHF, if its collapse in January was called “Black Thursday,” the events of last Wednesday can be safely dubbed “Dark Grey Wednesday.” We hope that the heavy clouds will disperse soon and the Swiss Frank will once again see the boundlessly blue Alpine skies.

Roman Butko, NordFX

 

[Julia NordFX]

Oil Prices Rise Due to Conflict in Yemen

Yesterday world financial markets closed with a drop mainly, with the exception of oil prices.

In Europe, the British FTSE 100 fell 0.41 percent to 6,990.97 points, the German DAX shed 1.17 percent down to 11,865.32 points, and the French CAC 40 dropped 1.32 percent to 5,020.99 points.

In Russia, the MICEX index fell 0.15 percent down to 1,616.13 points and the RTS index – 0.28 percent down to 877.84 points.

In the United States, the Dow Jones grew 1.63 percent up to 17,718.54 points, the S&P 500 dropped 1.46 percent to 2,061.05 points, and the NASDAQ lost 2.37 percent getting down to 4,876.52 points.

The NYMEX price of May futures for WTI oil rose by $1.7 and reached $49.21 a barrel. On London’s ICE, the Brent oil future for May went up by $1.37 and made $56.48 a barrel. Oil prices are on the rise due to the military operation launched by Saudi Arabia in Yemen that is situated near a shipping lane used to transport oil from the Persian Gulf to other parts of the world.

On the Forex market, EUR/USD has had a serious correction off its lowest level. Now one has to wait when the pair's further direction becomes clearer.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Equity Down, Oil Prices Up

Oil prices continue to rise due to the military action started by a coalition of countries in Yemen. This, however, had no bearing on equity rates – world major indices closed in the red yesterday.

As such in Europe, the British FTSE 100 dropped 1.37 percent down to 6,895.33 points, the German DAX shed 0.18 percent down to 11,843.68 points, and the French CAC 40 fell 0.29 percent finishing the trading session at 5,006.35 points.

Russia’s indices also posted a drop – the MICEX index declined by 1.08 percent down to 1,581.84 points while the RTS index fell 1.52 percent to 868.62 points.

In the USA, the Dow Jones shed 0.23 percent getting to 17,678.23 points, the S&P 500 dropped 0.24 percent to 2,056.15 points, and the NASDAQ fell 0.27 percent down to 4,863.36 points.

The NYMEX price of futures for WTI oil for May rose by $2.07 and made $51.28 a barrel. On London’s ICE, the price of May futures for oil of mark Brent went up by $2.51 and reached $58.99 a barrel.

On the global Forex market, EUR/USD has come to a halt as expected. At this point, it’s better to take a break and not enter the market.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Generalized Forex Forecast for 30 March - 3 April 2015

Generalizing the opinions of 35 analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, we have to mention that, according to the “open hands” symbol in the table, more than a third of the analysts are at a loss. However, the remaining experts are much more unanimous in their predictions than before:
- the forecast for EUR/USD remains the same – downwards trying to reach 1.0000 at least by the end of April. This week the pair may fall to around 1.0600-1.0750 where it will stabilize for some time;

- almost the same can be expected from the British Pound – most analysts predict GBP/USD would fall to 1.4700;

- as for USD/JPY, the forecasts of the analysts and of the indicators are contradictory. Yet, the pair is very likely to be in a bullish trend and try to conquer 120.50;

- just like last week, the USD/CHF chart may resemble that one of USD/JPY. In any case, all analysts expect USD/CHF to return to 1.0000. However, the forecast for this week is a bit more modest – a rise to 0.9750 or somewhat higher to 0.9800.

As for last week’s forecast:
- when predicting EUR/USD’s behavior, we didn’t rule out a further short-term upward trend to around 1.0915-1.1040, after which everything was supposed to get back to normal. As expected, the pair quickly went up to 1.1030, entered a sideways trend, remaining strictly in the set bounds, and then predictably returned to the level of the beginning of the week;

- the forecast for GBP/USD was also confirmed – the pair stayed in the sideways corridor under bearish influence all week long;

- the predicted fall of USD/JPY got prolonged, and the pair started to recover its losses only last Thursday managing to rise just to the average level of February by the end of the week;

- a rare event occurred with the USD/CHF weekly chart basically repeating the USD/JPY chart, which overall matches the first scenario we suggested – at first the pair moves strictly downwards and then strictly upwards. With this, the upward movement doesn’t look too convincing so far and needs to be upheld this week.

Roman Butko, NordFX

 

[Julia NordFX]

Markets Ended the Week with Mixed Results

Last Friday world financial markets posted mixed results. In Europe as such, the British FTSE 100 fell 0.58 percent to 6,855.02 points, the German DAX grew 0.21 percent up to 11,868.33 points, and the French CAC 40 advanced 0.55 percent up to 5,034.06 points.

In Russia, the MICEX index fell 0.65 percent to 1,571.55 points, and the RTS index dropped 1.4 percent down to 856.44 points.

In the USA, on the contrary, there was a rise on equity markets – the Dow Jones grew 0.19 percent to 17,712.66 points, the S&P 500 gained 0.24 percent up to 2,061.02 points, and the NASDAQ added 0.57 percent getting to 4,891.22 points.

Despite the ongoing armed conflict in Yemen, oil prices went down. Thus, the NYMEX price or WTI oil futures for May dropped $2.41 and reached $48.87 a barrel. On London’s ICE, the price of the Brent oil future for May delivery plunged by $2.58 and ended up at $56.41 a barrel.

On the global Forex market, EUR/USD is at a standstill. The pair is waiting for fresh stimuli to start moving.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Euro Falls, Indices Go Up

Yesterday the world’s equity markets closed on the rise. In Europe, Britain’s FTSE 100 grew 0.53 percent up to 6,891.43 points, Germany’s DAX advanced 1.83 percent up to 12,086.01 points, and France’s CAC 40 gained 0.98 percent up to 5,083.52 points.

On Russia’s floors, the MICEX index shot up by 2.52 percent making 1,611.22 points, and the RTS index advanced 2.5 percent up to 877.85 points.

In the USA, the Dow Jones grew 1.49 percent up to 17,976.31 points, the S&P 500 added 1.22 percent reaching 2,086.24 points, and the NASDAQ gained 1.15 percent up to 4,947.44 points.

Oil prices, however, continued to decline yesterday. The NYMEX price of WTI oil futures for May dropped by $0.19 and got to $48.68 a barrel. On London’s ICE, the price of Brent oil futures for May delivery fell by $0.12 and reached $56.29 a barrel.

On the Forex market, EUR/USD went down a little. Now the pair has quite a decent range for correction: 1.05-1.0960. The current decrease may extend to 1.0640.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Iran and P5+1 Reached Agreement

On Thursday, the world’s equity markets closed mainly on the rise whereas oil prices went down. In Europe, the British FTSE 100 grew 0.35 percent up to 6,833.46 points, the German DAX fell 0.28 percent to 11,967.39 points while the French CAC 40 added 0.24 percent reaching 5,074.14 points.

On Russia’s floors, the MICEX index grew 1.04 percent up to 1,679.24 points, and the RTS index advanced 2.55 percent up to 933.58 points.

In the USA, the Dow Jones gained 0.37 percent getting to 17,763.24 points, the S&P 500 grew 0.35 percent up to 2,066.96 points, and the NASDAQ was up by 0.14 percent making 4,886.94 points.

Oil prices continued to fall yesterday due to reports that Iran and six world powers reached an initial agreement on Iran’s nuclear program. According to it, Iran will decommission two thirds of its enrichment capacity for a 10-year period and will open all its nuclear development programs for monitoring for the next 25 years. In return, international sanctions against Iran’s oil deliveries will be lifted step by step. Investors interpret this as a sign that global oil supply may increase, which would make oil prices drop again.

By Thursday evening, the NYMEX price of WTI oil futures for May went down by $1.43 and made $48.69 a barrel. On London’s ICE, the price of Brent oil futures for May plunged by $3.03 and got to $54.22 a barrel.

On the Forex market, EUR/USD is moving within the correction range of 1.05-1.0960.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Good Friday Holiday

At the end of last week, US and EU financial markets were closed for Good Friday.

Due to that, without external stimulation, Russia’s equity market experienced subdued trading activity and posted the following results – the MICEX index fell 0.13 percent to 1,681.47 points, and the RTS index shed 0.3 percent down to 930.75 points.

On the global Forex market on Friday, the euro went up against the dollar. If the rise continues, EUR/USD may reach 1.1090. However, the euro’s advance can be hampered by the situation in Greece. Greece must pay part of its debt to the IMF this Thursday but there’s no arrangement for a new tranche yet.

Today a number of markets will still be closed for Easter Holidays.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

FOREX FORECAST FOR 6-10 APRIL 2015​

The opinions of 35 analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis indicate that a growing number of analysts are becoming confused as to what to expect from the currency markets. If in the last two weeks the number of such analysts was 30%, this week it has exceeded 40% and is approaching 50%. The forecasts are:

- the analysts’ opinions regarding EUR/USD have radically changed. Instead of a fall, they now predict a rise to around 1.1130-1.1250, although some indicators point to a sideways trend with quite strong volatility;

- the forecasts for GBP/USD have also turned around completely, and now the pair is pushing upwards to at least 1.5000;

- surprisingly, a third of the analysts believe that the USD/JPY pair is also aiming to grow, although almost all the indicators point to its fall. As a compromise, we suggest that the coming week will more likely see a sideways trend with prevailing bullish tendencies. The target will remain at 121.50-122.00;

- finally, USD/CHF. You may disbelieve it but even in this case 47% of the analysts claim that the pair will rise (with only 16% against it). At the same time, 91% of the indicators are for the pair’s fall. It is hard to know who’s right but looking at more long-term forecasts, we can expect the pair to return to the 1.0000 mark after all.

As for last week’s forecast:
- at the beginning of the week, the forecast for EUR/USD was fulfilled 100%, in the middle of the week – also 100%, however, towards the end of the week, with the extended Easter bank holidays, the pair decided to rewind to the level of seven days ago. We’d predicted that the pair would fall to around 1.0600-1.0750, and on the last day of March it fell to 1.0715. After that, it should have stabilized in this range for some time. Another correct guess – the sideways trend held throughout the middle of the week. We’d made no predictions for after that. In reality, EUR/USD rebounded upwards so much that it returned to the level of one week ago;

- two weeks ago, GBP/USD was predicted to be in a sideways trend under bearish influence and fall to the level of 1.4700. The Pound came up short of just 40 points to fulfil this, having reached 1.4740 at its minimum;

- the analysts and indicators’ forecasts for USD/JPY were at loggerheads last week. Nonetheless, the pair was expected to move up to 120.50, which it almost reached, stalling at 120.30;

- the forecast for USD/CHF was confirmed – its weekly chart was supposed to repeat that one of USD/JPY. The second part of the forecast was a rise to 0.9750, which the pair delivered by reaching the 0.9756 mark.

Roman Butko, NordFX

 

[Julia NordFX]

Markets Rise, Albeit with Some Negativity

Yesterday world financial markets closed on the up. As such, on Russia’s floors, the MICEX index grew 1.14 percent up to 1,700.64 points, and the RTS index shot up by 4.4 percent altogether making 971.08 points. That was due to a sharp rise in oil prices.

After the long weekend, oil futures went up noticeably. The NYMEX price of WTI oil futures for May rose by $3 and reached $52.14 a barrel. On London’s ICE, the cost of the Brent oil future for May increased by $3.17 and made $58.12 a barrel. The hike in oil prices has to do, among other things, with the fact that Saudi Arabia raised oil prices for Asian buyers.

US equity also posted a rise – the Dow Jones grew 0.66 percent up to 17,880.85 points, the S&P 500 also advanced 0.66 percent up to 2,080.62 points, and the NASDAQ gained 0.62 percent getting to 4,917.32 points.

Nonetheless, there’s some negative data as well. Last Friday, figures for US non-farm jobs were published – the number of jobs increased by 126,000 whereas the forecast was a 245,000 increase.

On the Forex market, EUR/USD is going down again. However, the pair is still within the correction range.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

What Will the Federal Reserve’s Meeting Records Reveal?

Yesterday the world’s financial markets closed mixed. In Europe, the FTSE 100 grew 1.88 percent to 6,961.77 points, the DAX gained 1.3 percent going up to 12,123.52 points, and the CAC 40 advanced 1.52 percent up to 5,151.19 points.

In Russia, the MICEX index fell 0.29 percent to 1,695.64 points while the RTS index added 0.02 percent reaching 971.24 points.

US equity posted a slight drop – the Dow Jones fell 0.03 percent to 17,875.42 points, the S&P 500 shed 0.21 percent down to 2,076.33 points, and the NASDAQ – 0.14 percent down to 4,910.23 points.

The NYMEX price of WTI oil futures for May rose by $1.84 and made $53.98 a barrel. The price of Brent oil futures for May delivery on London’s ICE went up by $0.98 and reached $59.10 a barrel.

On the Forex market, EUR/USD displayed insignificant changes. Today, the Federal Reserve will publish its meeting records from 17-18 March. They may shed light on when the key interest rate will be raised, and the pair could react to the release of the meeting notes.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Oil Prices Slumped Due to US Reserves Data

On Wednesday, the world’s financial markets posted mixed results. In Europe, the British FTSE 100 fell 0.35 percent down to 6,937.41 points, the German DAX dropped 0.72 percent down to 12,035.86 points, and the French CAC 40 shed 0.28 percent finishing the trading session at 5,136.86 points.

In Russia, the MICEX index fell 0.71 percent to 1,683.63 points whereas the RTS index advanced 1.76 percent up to 988.30 points.

In the Unites States, the Dow Jones added 0.15 percent reaching 17,902.51 points, the S&P 500 grew 0.27 percent up to 2,081.90 points, and the NASDAQ gained 0.83 percent getting to 4,950.82 points. The rise was linked to the release of the Federal Reserve’s meeting records from March – at this time the Federal Reserve won’t raise the key interest rate but is going to consider it later this year.

At the same time, oil prices tumbled down yesterday due to reports that US oil reserves reached their max since March 2001. On the NYMEX, the price of WTI oil futures for May plunged by $3.56 altogether and reached $50.42 a barrel. On London’s ICE, the cost of Brent oil futures for May delivery dropped by $3.55 and ended up at $55.55 a barrel.

On the global currency market, the dollar continued to get stronger against the euro. Nonetheless, the trend hasn’t change drastically – EUR/USD has some leeway within the correction range and thus can still go down to 1.0495.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Forex Forecast for 13-17 April 2015​

Looking back at last week’s forecast, one has to admit that the Forex market cannot succumb to panic. What I mean is that, contrary to all logic, the analysts suddenly decided to predict growth for all four pairs last week and, of course, were punished for this:
- end of the winter, EUR/USD was predicted to aspire to reach the landmark of 1.0000, and I stood by it all along. However, as soon as the analysts changed their outlook for just one week and predicted its rise, EUR/USD immediately started to move downwards to 1.0600 where it was expected in early April;

- the scenario for GBP/USD was quite similar. During the week, the pair made two attempts to play along with the analysts and get up to 1.5000. However, it bounced off 1.4980 and plunged by 400 points altogether, reaching its mid-March low;

- the weekly forecast for USD/JPY came true – the pair displayed both bullish tendencies and attempts to reach the range of 121.50-122.00. Nonetheless, its record is “just” 120.730 so far;

- the prediction for USD/CHF also stood – after a downward rebound, the pair returned to a bullish trend, aiming to meet EUR and USD at the 1.0000 mark.

The forecast for this week. Looking at the table generalizing the opinions of 35 analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, one can draw an interim conclusion: if two weeks ago the number of confused analysts was around 30%, now it is already over 50%. Despite this, I’d like to offer such forecasts:
- EUR/USD (like the rest of the mentioned pairs) is expected to stay on course and try to break through the level of 1.0460. The pair will experience the pressure of its top boundary at 1.0720;

- GBP/USD is predicted to be in a sideways trend under bearish influence, the upper boundary being 1.4800. The bottom boundary is hard to define as the pair has gone below its 5-year minimum. For now, it can be set just under 1.4500;

- USD/JPY will continue to move up to 121.50, although for some time the pair may be in a sideways trend;

- finally, the forecast for USD/CHF is again similar to that for USD/JPY – upwards to 1.0000 and maybe even a bit higher.

Roman Butko, NordFX

 

[Julia NordFX]

Euro May Fall Below 1.0495

Last Friday the world's financial markets closed predominantly on the rise. In Europe as such, Britain’s FTSE 100 grew 1.06 percent up to 7,089.77 points, Germany’s DAX advanced 1.71 percent up to 12,374.73 points, and France’s CAC 40 added 0.6 percent making 5,240.46 points.

In Russia, the MICEX index fell 0.63 percent down to 1,657.02 points and the RTS index – 0.4 percent down to 999.38 points.

In the USA, the Dow Jones grew 0.55 percent to 18,057.65 points, the S&P 500 gained 0.25 percent up to 2,102.06 points, and the NASDAQ added 0.43 percent getting up to 4,925.98 points.

On the NYMEX, the price of WTI oil futures for May rose by $0.85 and made $51.64 a barrel. On London’s ICE, the price of Brent oil futures for May delivery went up by $1.30 and reached $57.87 a barrel.

On the global Forex market, EUR/USD dropped almost to 1.0495, i.e. the bottom boundary of the correction range. If the pair breaks through this level, its sharp decline can continue. With this, it’s not advisable to enter the market at the breakthrough point – the pair may form a double bottom pattern on the daily chart.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Green Light on All Markets

Yesterday world financial markets closed on the up due to a rise in oil prices. In Europe as such, the British FTSE 100 grew 0.3 percent to 7,096.78 points, the German DAX added 0.03 percent going up to 12,231.34 points, and the French CAC 40 gained 0.7 percent up to 5,254.35 points. The equity hike was also linked to reports that the European Central Bank had kept the current key interest rate unchanged and decided to continue with its QE program.

On the Russian stock market, the MICEX index advanced 1.84 percent up to 1,677.70 points and the RTS index – 3.63 percent up to 1,052.33 points.

In the USA, the Dow Jones grew 0.42 percent to 18,112.61 points, the S&P 500 gained 0.51 percent up to 2,106.63 points, and the NASDAQ advanced 0.68 percent up to 5,011.02 points.

The NYMEX price of WTI oil futures for May delivery rose by $0.04 and reached $56.43 a barrel. On London’s ICE, the price of the Brent oil future for May went up by $1.89 and closed at $60.32 a barrel.

On the Forex market, EUR/USD couldn’t get over the lower resistance level and is now again in the middle of the correction range of 1.05-1.0965. At this point, it’s too risky to enter the market.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Respite after Active Growth

Yesterday the world’s financial markets closed mixed. In Europe, there remains a sense of uncertainty and apprehension regarding Greece’s debt – Greece and its lenders haven’t yet come to an agreement about a number of key reform points. Thursday’s trading resulted in the FTSE falling 0.51 percent to 7,060.45 points, the DAX 30 dropping 1.9 percent down to 11,998.86 points and CAC 40 shedding 0.57 percent down to 5,224.49 points.

In Russia, the MICEX index added 0.54 percent reaching 1,686.79 points, and the RTS index closed with a 0.88 percent rise getting to 1,061.60 points.

In the United States, the Dow Jones fell 0.04 percent to 18,105.77 points, the S&P 500 shed 0.08 percent down to 2,104.99 points and the NASDAQ – 0.06 percent down to 5,007.79 points.

The NYMEX cost of May WTI oil futures went up by $0.32 and made $56.71 a barrel. On London’s ICE, the price of Brent oil futures for May rose by $0.66 and reached $63.98 a barrel.

On the Forex market, EUR/USD displayed a slight rise. However, the situation hasn’t changed much since yesterday. We’re still waiting for signals.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Generalized Forex Forecast for 20-24 April 2015​

Regarding the analysis for the past week, I’ve got to admit that forecasters propose but the market disposes. Last week, 30% of the analysts and … 91% of the indicators happened to be wrong about the EUR/USD pair! Only 6% of the analysts hit the mark (not considering 58% that simply threw their hands up and wisely refused to comment). Most likely, the confusion has to do with the Easter holidays at all major financial centers.

If you look at the four-hour chart for EUR/USD, it clearly shows the pair’s rise over the past week. If you look at the daily candles for EUR/USD, instead of the rise, you see that the pair transitioned into a sideways trend with strong bearish influence. In a week, the bulls could regain only half the ground they had lost to the bears 6-10 April.

In turn, GBP/USD, USD/JPY and USD/CHF refuted the forecasts of many analysts and indicators and followed EUR/USD.

The outlook for the coming week will be concise this time. The enclosed table is rather a visual warning that the analysts are at a loss, most probably due to the fact that over Easter all four pairs went into a sideways trend, which may either linger or result in an impressive breakthrough.

Roman Butko, NordFX

 

[Julia NordFX]

Decline for All Markets

Last Friday the world’s financial markets closed with a slump due to China's crackdown on margin trading. Besides, investors are concerned about Greece’s debt. Last week it became known that some countries had instructed its bank divisions in Greece to sell Greek sovereign bonds and treasury bills.

In Europe as such, the British FTSE 100 fell 0.93 percent to 6,994.63 points, the German DAX dropped 2.58 percent down to 11,688.70 points, and the French CAC 40 shed 1.55 percent down to 5,143.26 points.

Russia’s equity followed suit – by Friday evening the MICEX index fell 1.79 percent to 1,656.59 points while the RTS index plunged 5.9 percent altogether getting to 998.96 points.

In the USA, the Dow Jones dropped 1.54 percent down to 17,826.30 points, the S&P 500 shed 1.13 percent down to 2,081.18 points, and the NASDAQ fell 1.52 percent down to 4,931.81 points.

The NYMEX price of WTI oil futures for June went down by $0.79 and reached $57.32 a barrel. On London’s ICE, the price of Brent oil futures for June lowered by $0.53 and ended up at $63.45 a barrel.

On the global Forex market, EUR/USD is basically at the same level as it was last Friday.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

Markets Are on the Up Again

Yesterday world financial markets closed on the rise for the most part. In Europe, the FTSE 100 fell 0.12 percent to 7,052.13 points but the DAX 30 advanced 1.74 percent up to 11,891.91 points, and the CAC 40 grew 0.86 percent to 5,187.59 points.

Russia’s equity markets posted mixed results yesterday – the MICEX index added 1.61 percent reaching 1,683.24 points while the RTS index dropped 0.33 percent down to 995.70 points. The MICEX index got a boost from reports that Fitch Ratings had postponed making a decision about changing Russia’s credit rating.

In the USA, the Dow Jones grew 1.17 percent to 18,034.93 points, the S&P 500 gained 0.92 percent up to 2,100.40 points, and the NASDAQ advanced 1.27 percent up to 4,994.60 points.

On the NYMEX, the price of June futures for WTI oil rose by $0.56 and made $57.88 a barrel yesterday. On London’s ICE, the price of Brent oil futures for June remained at $63.45 a barrel.

The global Forex market saw EUR/USD go down. The pair may reach 1.0560.

Anna Gorenkova

NordFX Analyst

 

[Julia NordFX]

EUR/USD Correction Continues

On Thursday, the world’s financial markets closed mixed. In Europe, the FTSE 100 advanced 2.36 percent up to 7,053.67 points, the DAX dropped 1.21 percent down to 11,723.58 points, and the САС 40 fell 0.62 percent down to 5,178.91 points.

In Russia, the MICEX index shed 0.89 percent down to 1,662.64 points whereas the RTS index grew 2.44 percent to 1,028.47 points.

US stock indices were up – the Dow Jones gained 0.11 percent up to 18,058.69 points, the S&P 500 grew 0.24 percent to 2,112.93 points, and the NASDAQ advanced 0.41 percent up to 5,056.06 points.

Yesterday oil prices went up due to reports that Saudi air attacks were resumed in Yemen. The NYMEX price of WTI oil futures for June rose by $1.58 and made $57.74 a barrel. On London’s ICE, the price of Brent oil futures for June went up by 2.12 and reached $64.85 a barrel.

On the Forex market, EUR/USD keeps moving within the correction range. If the current rise continues, the pair may get to 1.0960.

Anna Gorenkova

NordFX Analyst