Daily market analysis by NordFX

[Julia NordFX]

Pairs Need a New Impulse

Markets closed mixed again due to negative statistics from the USA. This time in Europe the British FTSE 100 climbed up by 0.06 percent and made 6,308.26 points, the French CAC 40 was up by 0.19 percent reaching 3,805.16 points and the German DAX 30 gained 0.40 percent going up to 8,127.96 points.

In Russia the MICEX index grew 1.38 percent up to 1,299.61 points while the RTS index advanced 2.56 percent and made 1,293.88 points.

In the United States the Dow Jones fell 0.70 percent and got to 15,070.18 points, the NASDAQ dropped 0.63 percent and reached 3,423.56 points, the S&P500 shed 0.59 percent and made 1,626.73 points.

On London’s ICE the price of August Brent oil futures rose to $105.93 a barrel while on NYMEX the price of July futures for light WTI oil went up to $97.85 a barrel.

On the Forex market, EUR/USD is experiencing a further correction. However, Friday’s closing level shows the pair is set to go up. All it needs is a trigger.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Some Growth but Still No Impulse for Movement

Yesterday the world’s stock markets closed on the rise whereas there was a slump on the commodity market. In Europe the British FTSE 100 grew 0.35 percent and made 6,330.49 points, the French CAC 40 closed with a 1.54 percent increase reaching 3,863.66 points, and the German DAX 30 advanced 1.08 percent up to 8,215.73 points.

In Russia the MICEX index gained 2 percent and made 1,325.27 points while the RTS index grew 1.6 percent up to 1,314.01 points.

In the USA the Dow Jones advanced 0.73 percent and reached 15,179.85 points, the NASDAQ rose by 0.83 percent up to 3,452.13 points, the S&P500 grew 0.76 percent and made 1,639.04 points.

On London’s ICE the price of August Brent oil futures went down to $105.47 a barrel, and on NYMEX the price of July light WTI oil futures dropped to $97.77 a barrel.

There are no changes on the Forex market so far.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

All in the Red Once More

Yesterday world financial markets closed in the negative due to Federal Reserve Chairman Ben Bernanke’s announcements about the U.S. Central Bank starting to curtail economic stimulus measures this year.

In Europe the British FTSE 100 shed 1.38 percent down to 6,261.29 points, the German DAX went down by 1.39 percent making 8,082.91 points, and the value of the French CAC 40 shrank by 1.79 percent going down to 3,770.56 points.

In Russia the MICEX index fell 0.87 percent down to 1,323.57 points while the RTS index shed 1.70 percent and made 1,291.73 points.

In the USA the Dow Jones Industrial Average dropped 1.35 percent down to 15,112.19 points, the S&P 500 fell 1.39 percent down to 1,628.93 points, and the Nasdaq Composite went down by 1.12 percent reaching 3,443.20 points.

On London’s IntercontinentalExchange Futures Europe the official price of the IPE Brent Crude future rose by $0.10 and settled at $106.12 a barrel. On the New York Mercantile Exchange the official price of the Light Sweet Crude Oil future lowered by $0.20 and got to $98.24 a barrel.

On the Forex market, EUR/USD crashed down. With that, if the pair closes at 1.3240 today there’s a chance the pair won’t complete the long-term double bottom pattern.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Closed Mixed

On the last day of the previous trading week the world’s financial markets closed mixed in light of weak statistics from Germany as well as solid figures for the US labor market. According to stock exchanges’ data, the latter enhanced expectations that the Federal Reserve would start folding its economic stimulus program shortly.

Thus, in Europe the German DAX 30 fell 2.36 percent down to 7,806 points, the French CAC 40 shed 1.5 percent and made 3,753.85 points while London’s FTSE 100 dropped 0.72 percent and reached 6,375.52 points.

The Russian stock market closed with a slump – the MICEX index fell 0.48 percent down to 1,342.72 points and the RTS index shed 0.94 percent reaching 1.268.59 points.

The Dow Jones Industrial Average went up by 0.98 percent and made 15,135.84 points, the hi-tech NASDAQ advanced 1.04 percent up to 3,479.38 points, and the S&P 500 BMI grew 1.02 percent up to 1,631.89 points.

The price of August futures for light WTI oil rose by $1.98, up to $103.22 a barrel. The price of August futures for the North Sea petroleum mix of mark Brent Crude Oil went up by $2.18, to $107.72 a barrel.

The U.S. Department of Labor reported that last June the number of jobs in the nonfarm sectors of the US economy increased by 195,000 whereas the growth was expected to be by just 165,000 jobs.

On the Forex market, EUR/USD may get to 1.2780 today.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Finished on a Rise

Yesterday world stock markets closed on a rise. As such, in Europe the British FTSE 100 grew 1.17 percent and made 6,450.07 points, the German DAX advanced 2.08 percent up to 7,968.54 points, and the French CAC 40 was up by 1.86 percent reaching 3,823.83 points.

In Russia the MICEX index grew 0.46 percent up to 1,348.88 points while the RTS index gained 0.71 percent and made 1,277.55 points.

In the United States the Dow Jones went up by 0.59 percent reaching 15,224.69 points, the NASDAQ gained 0.16 percent making 3,484.83 points, and the S&P 500 grew 0.53 points up to 1,640.46 points.

As worries about a conflict at the Suez Canal subsided, the price of August futures for light WTI oil lowered by $0.08, down to $103.14 a barrel. The price of August futures for the North Sea petroleum mix of mark Brent Crude Oil went down by $0.29, to $107.43 a barrel.

The US economy got 195,000 new jobs whereas experts had predicted just 155,000 new jobs. At the same time stock players were favorably impressed with the decision made by the European Central Bank and the Bank of England 4 July to keep the interest rates at a very low level of 0.5 percent.

On the Forex market, the EUR/USD pair closed with the euro on the up.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

And Green Light Again

Monday ended up on a rise predominantly. As such, in Europe the German DAX 30 grew 1.12 percent up to 8,057.75 points, the French CAC 40 gained 0.52 percent and made 3,843.56 points while London’s FTSE 100 advanced 0.98 percent and got to 6,513.08 points.

On the Russian floor, the MICEX index fell 0.2 percent and reached 1,345.73 points whereas the RTS index went up by 0.4 percent making 1,282.84 points.

In the USA the Dow Jones index advanced 0.50 percent up to 15,300.34 points, the NASDAQ gained 0.56 percent making 3,504.26 points, and the S&P 500 grew 0.72 percent reaching 1,652.32 points.

The price of August futures for light WTI oil rose by $0.39, up to $103.53 a barrel. The price of the North Sea petroleum mix of mark Brent Crude Oil rose by $0.38, up to $107.81 a barrel.

Yesterday EUR/USD arrived at 1.2770. Now a correction can be expected at this rate. However, with a favorable news background the pair can break through the support. In this case, its target will become 1.2660.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Dollar Fell Sharply. EUR/USD Didn’t Get Over 1.2770

The stock market closed mixed mid-week. In particular, the German DAX 30 shrank by 0.11 percent down to 8,048.76 points, the French CAC 40 shed 0.1 percent and made 3,840.53 points while London’s FTSE 100 dropped 0.12 percent and reached 6,504.96 points.

In Russia the MICEX index fell 0.89 percent down to 1,333.71 points, the RTS index shed 0.57 percent and made 1,275.51 points.

In the USA the Dow Jones index was down by 0.06 percent making 15,291.66 points, the NASDAQ gained 0.47 percent reaching 3,520.76 points, and the S&P climbed up by 0.02 percent making 1,652.62 points.

The price of August WTI oil futures rose by $2.51, up to $106.04 a barrel. The price of August futures for the North Sea petroleum mix of mark Brent Crude Oil grew by $0.18, up to $107.99 a barrel.

On the Forex market, the dollar fell sharply against the euro in light of Federal Reserve Chairman Ben Bernanke’s announcements. Nonetheless, the euro is going down today. However, currently movements are unpredictable and too abrupt for opening positions.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Happy Friday for Indices

Last Friday world financial markets closed with major indices mainly on the rise. As such, in Europe the German DAX 30 grew 0.66 percent up to 8,212.77 points, the French CAC 40 shed 0.36 percent and made 3,855.09 points whereas London’s FTSE 100 climbed up by 0.02 percent and reached 6,544.94 points.

In Russia the MICEX index grew 2.20 percent up to 1,398.22 points, and the RTS index gained 1.84 percent making 1,347.09 points.

In the USA the Dow Jones index advanced 0.2 percent up to 15,464 points, the S&P – 0.31 percent up to 1,680 points and the Nasdaq – 0.61 percent up to 3,600 points.

The price of August futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $1.08, up to $108.81 a barrel. The price of August WTI oil futures was up by $1.04 reaching $105.95 a barrel.

The troika of international lenders – the ECB, the IMF and the EC – met the Portugal government’s request to transfer the tranche payment to the end of August from this mid-July due to the country’s political problems. Besides, Portugal’s next performance review was moved to the same time period. Portugal had received 78 billion euro in financial aid.

On the Forex market, the euro is experiencing a correction for a second day after its sharp rise. It’s early to enter the market at this point.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Green Light on All Markets

On the first day of this trading week financial markets closed on a rise. As such, in Europe the German DAX 30 advanced 0.27 percent up to 8,243.81 points, the French CAC 40 grew 0.61 percent and made 3,878.58 points, London’s FTSE 100 gained 0.63 percent and reached 6,586.11 points.

In Russia the MICEX index grew 0.38 percent up to 1,403.56 points while the RTS index gained 0.42 percent and made 1,354.54 points.

In the USA the Dow Jones index went up by 0.13 percent reaching 15,484.26 points, the NASDAQ advanced 0.21 percent making 3,607.49 points, and the S&P grew 0.14 percent up to 1,682.50 points.

The price of August futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.28, up to $109.09 a barrel. The price of August WTI oil futures went up by $0.37, to $106.32 a barrel.

Yesterday there was data published showing that China’s GDP grew 7.5 percent in April-June 2013. Despite the fact that the figures matched analysts’ forecasts, they also indicate economic slowdown in the country. With that, markets had a positive reaction to the data.

On the Forex market, the situation is still the same. One has to wait and see.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Good News from USA

Yesterday world financial markets finished mainly on a rise. Favorable macroeconomic statistics from the USA were conductive to it – the number of first-time unemployment benefit applications per week decreased by 24,000, in comparison with the previous week, down to 334,000. This is the best figures since May. In light of positive news from the United States, experts predict that the US Federal Reserve is likely to end or scale down its bond buying program to the tune of 85 billion dollars a month currently.

As a result, in Europe the British FTSE 100 grew 0.95 percent and made 6,634.36 points, the German DAX advanced 1 percent up to 8,337.09 points, and the French CAC 40 was up by 1.44 percent making 3,927.79 points.

In Russia the MICEX index shed 1.06 percent and reached 1,416.63 points while the RTS index dropped 1.16 percent down to 1,376.96 points.

In the USA the Dow Jones index grew 0.5 percent reaching 15,548.54 points, the S&P 500 also advanced 0.5 percent up to 1,689.37 points, and the NASDAQ climbed up by 0.04 percent to 3,611.28 points.

On the New York Mercantile Exchange, the price of August futures for American light WTI oil went up to $107.65 a barrel. On London’s ICE Futures Europe, the price of August futures for the North Sea petroleum mix of mark Brent rose to $108.50 a barrel.

On the Forex market, EUR/USD is still at about the same level. As before, we’re waiting for a clearer picture.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Friday Ended with Uncertainty

Last Friday world financial markets closed mixed. As such, in Europe the German DAX 30 shed 0.07 percent down to 8,331.57 points, the French CAC 40 dropped 0.06 percent and made 3,925.32 points while London’s FTSE 100 shrank by 0.06 percent and reached 6,630.67 points.

In Russia the MICEX index grew 0.36 percent up to 1,421.67 points, and the RTS index gained 0.36% making 1,382.33 points.

In the USA the Dow Jones index fell 0.03 percent down to 15,543.74 points, the NASDAQ shed 0.66 percent reaching 3,587.61 points, and the S&P advanced 0.16 percent up to 1,692.09 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $0.63, down to $108.07 a barrel. The price of August WTI oil futures rose by $0.01, up to 108.05 a barrel.

On Friday Moody's affirmed the USA’s AAA credit rating and upgraded its outlook to stable from negative, although just at the beginning of the year the agency warned that the USA’s sovereign rating might be downgraded. Moody’s says that the US government’s measures to reduce the budget deficit meet the rating agency’s criteria.

On the Forex market, EUR/USD keeps going up. If it finishes the day above 1.3205, you may expect the pair to continue to move up to 1.3275.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Still No Common Trend

On Tuesday world financial markets closed mixed. European floors had the following results – the German DAX 30 shed 0.2 percent down to 8,314.23 points, the French CAC 40 fell 0.43 percent and made 3,923.09 points while London’s FTSE 100 shrank by 0.18 percent down to 6,611.28 points.

In Russia the MICEX index grew 0.13 percent up to 1,417.34 points whereas the RTS index dropped 0.01 percent down to 1,379.88 points.

In the United States the Dow Jones index climbed up by 0.01 percent making 15,545.55 points, the NASDAQ grew 0.36 percent reaching 3,600.39 points, and the S&P gained 0.20 percent up to 1,695.53 points.

The price of September futures for light WTI oil rose by $0.29, up to $107.23 a barrel. The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil went up by $0.27, to $108.41 a barrel.

On the Forex market, EUR/USD closed above the afore-mentioned level of 1.3205 yesterday. Now the pair may reach 1.3270.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Mixed Movements on Markets

Yesterday world financial markets finished with uncertainty again. As such, in Europe the British FTSE 100 advanced 0.35 percent up to 6,620.43 points, the German DAX grew 0.78 percent up to 8,379.11 points, and the French CAC 40 was up by 1.01 percent making 3,962.75 points.

In Russia the MICEX index fell 0.70 percent down to 1,407.41 points while the RTS index shed 0.76 percent and reached 1,369.35 points.

In the USA the Dow Jones dropped на 0.16 percent making 15,542.24 points, the NASDAQ gained 0.01 percent up to 3,579.60 points whereas the S&P fell 0.38 percent reaching 1,685.94 points.

On the New York Mercantile Exchange, price quotations for September WTI oil futures went down by $1.84 and made $105.39 a barrel. On London’s ICE, the price of Brent futures for September delivery lowered by $1.23 and got to $107.19 a barrel.

On the Forex market, EUR/USD is going up slightly today. Also, today US data for durable goods orders is to be released, which may have an impact on the pair’s further movement.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Waiting for Signals Once Again

Yesterday the world’s financial markets closed mixed once more. In particular, in Europe the German DAX 30 fell 0.96 percent down to 8,298.98 points, the French CAC 40 dropped 0.17 percent and made 3,956.02 points while London’s FTSE 100 shed 0.49 percent down to 6,587.95 points.

On the Russian floor the MICEX index went down by 0.39 percent down to 1,401.88 points, and the RTS index fell 1.17 percent down to 1,353.38 points.

In the USA the Dow Jones index gained 0.09 percent and made 15,555.61 points, the hi-tech NASDAQ grew 0.71 percent up to 3,605.19 points, and the S&P 500 BMI advanced 0.26 percent up to 1,690.25 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.46, up to $107.65 a barrel. The price of September futures for light WTI oil went up by $0.07 making $105.46 a barrel.

Yesterday EUR/USD reached the rate mentioned earlier. Today it’s more waiting – the pair is up against resistance now.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Closed Without Common Trend Again

Last Friday world financial markets closed mixed. As such, in Europe the German DAX 30 fell 0.65 percent down to 8,244.91 points, the French CAC 40 grew 0.32 percent and made 3,968.84 points whereas London’s FTSE 100 shed 0.5 percent down to 6,554.79 points.

In Russia the MICEX index dropped 0.09 percent down to 1,403.14 points while the RTS index fell 0.37 percent and got to 1,348.37 points.

In the USA the Dow Jones was up by 0.02 percent making 15,558.83 points, the NASDAQ advanced 0.22% up to 3,613.16 points, and the S&P gained 0.08% reaching 1,691.65 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil dropped by $0.48, down to $107.17 a barrel. The price of September WTI oil futures lowered by $0.79, down to $104.70 a barrel.

Earlier on Friday the Chinese government announced its decision to obligate over 1400 companies in 19 sectors to cut their excess production capacity during 2013 with the view of achieving slower and more stable economic growth. In particular, China is planning to shut more than 92 million tons of excess cement production capacity and 7 million tons of steel production capacity. At this point markets aren’t sure how to react to this development.

On the Forex market, EUR/USD is at the support level of 1.3275. However, it’s early to speak about further growth – there’re no clear signals to act.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

In Anticipation of Federal Reserve Meeting

Yesterday world financial markets finished with a slump in major indices. In particular, in Europe Britain’s FTSE went up by 0.08 percent to 6,560.25 points, Germany’s DAX grew 0.17 percent up to 8,259.03 points, and France’s CAC 40 climbed up by 0.002 percent to 3,968.91 points.

The MICEX index shed 0.34 percent down to 1,398.30 points. The RTS index fell 0.52 percent down to 1,341.34 points, although it grew 0.50 percent during the evening session.

In the USA the Dow Jones fell 0.24 percent and made 15,521.97 points, the NASDAQ shed 0.39 percent and reached 3,599.14 points while the S&P500 dropped 0.37 percent and got to 1,685.33 points.

On London’s InterсontinentalExchange Futures Europe the official price of the IPE Brent Crude future rose by $0.28 and reached $107.45 a barrel. On the New York Mercantile Exchange the official price of the Light Sweet Crude Oil future lowered by $0.15 and got to $104.55 a barrel.

On the Forex market, EUR/USD is still at the same level. Markets are waiting for the Federal Reserve Chairman’s speech at the two-day meeting that starts today.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Where Is the Vector?

The world’s financial indices have been closing mixed for days now. In Europe the German DAX 30 grew 0.15 percent up to 8,271.02 points, the French CAC 40 advanced 0.45 percent and made 3,986.61 points while London’s FTSE 100 went up by 0.16 percent to 6,570.95 points.

The MICEX index shed 0.79 percent down to 1,387.31 points, and the dollar-based RTS index fell 1.11 percent down to 1,326.41 points during the daytime session.

The Dow Jones index dropped 0.01 percent down to 15,520.59 points, the S&P 500 gained 0.04 percent and made 1,685.96 points while the NASDAQ grew 0.48 percent and stopped at 3,616.47 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $0.54, down to $106.91 a barrel. The price of September futures for light WTI oil dropped by $1.47, down to $103.08 a barrel.

On the Forex market, EUR/USD is also making no headway. Wednesday’s key event will be Ben Bernanke’s press conference where the Fed Chief can indicate a specific timeframe for scaling down the QE program. This may set a direction for markets.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Old News So Far

Yesterday world financial markets finished mixed once again. In Europe the German DAX 30 climbed up by 0.06 percent to 8,275.97 points, the French CAC 40 advanced 0.2 percent and made 3,992.69 points while London’s FTSE 100 grew 0.76 percent up to 6,621.06 points.

In Russia the RTS index shed 0.98 percent and made 1,313.38 points and the MICEX index — 0.83 percent dropping to 1,375.79 points.

In the USA the Dow Jones index fell 0.01 percent down to 15,520.59 points, the NASDAQ gained 0.48 percent reaching 3,616.47 points, and the S&P grew 0.04 percent up to 1,685.96 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.83, up to $107.74 a barrel. The price of September futures for light WTI oil grew by $2.09, up to $105.17 a barrel.

Yesterday on the global Forex market EUR/USD closed with a bull candlestick but with large shadows. Thus, it’s difficult to predict a further trend for sure. It’s better to wait some more.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Stock Indices Falling, Euro at a Stop

Yesterday world financial markets closed with a sharp fall of major indices. As such, in Europe the German DAX 30 fell 0.10 percent down to 8,398.38 points, the French CAC 40 grew 0.1 percent and made 4,049.97 points whereas London’s FTSE 100 shed 0.43 percent down to 6,619.58 points.

In Russia the MICEX index dropped 0.03 percent and got to 1,391.75 points while the RTS index shed 0.22 percent and reached 1,333.42 points.

The Dow Jones Industrial Average fell 0.3 percent down to 15,612.13 points, the S&P 500 went down by 0.1 percent to 1,707.14 points, and the Nasdaq Composite gained 0.1 percent up to 3,692.95 points.

On London’s IntercontinentalExchange Futures Europe, the official price of the IPE Brent Crude future (September) lowered by 0.2 percent and stopped at $108.70 a barrel. On the New York Mercantile Exchange, the official price of the Light Sweet Crude Oil future (September) went down by 0.4 percent and settled at $106.56 a barrel.

Global oil prices are going down in light of the USA’s announcements about its readiness for dialogue with Iran after the new president was elected. Hassan Rouhani, who officially took up the post of the President of the Islamic Republic last Sunday, said that the only way to interact with his country was through dialogue but not sanctions. Following the inauguration, White House Press Secretary Jay Carney noted that the US was prepared to have meaningful talks with Iran.

On the Forex market, EUR/USD is still making no headway.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Slump in Indices

On Tuesday world financial markets finished with a slump. In particular, in Europe the British FTSE 100 shrank by 0.23 percent and made 6,604.21 points, the French CAC 40 was down by 0.43 percent and reached 4,032.57 points while the German DAX fell 1.17 percent down to 8,299.73 points.

In Russia the MICEX index fell 1.95 percent and got to 1,364.65 points, the RTS index shed 2.13 percent making 1,304.98 points.

In the USA the Dow Jones index dropped 0.60 percent and made 15,518.74 points, the NASDAQ shed 0.74 percent and reached 3,665.77 points, the S&P500 fell 0.57 percent down to 1,697.37 points.

The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $0.52, or 0.5 percent, down to $108.18 a barrel. The price of September futures for light WTI oil dropped by $1.26, down to $105.30 a barrel.

There are no new developments on the Forex market thus far – no signals for opening a trade.

Anna Gorenkova
NordFX Analyst