Daily market analysis by NordFX

[Julia NordFX]

Euro Began to Go Up

Yesterday world financial markets closed with a drop in major indices. In Europe, as such, Germany’s DAX 30 shed 0.47 percent down to 8,260.48 points, France’s CAC 40 grew 0.2 percent and made 4,038.49 points whereas London’s FTSE 100 fell 1.41 percent down to 6,511.21 points.

In Russia the stock index MICEX went down by 0.13 percent to 1,362.91 points, and the RTS index fell 0.28 percent down to 1,301.28 points.

In the United States the Dow Jones dropped 0.31 percent down to 15,470.67 points, the S&P – 0.38 percent down to 1,690.91 points and the Nasdaq – 0.32 percent down to 3,654.01.

The official prices of oil futures reached the lowest points for the past six trading days. The day before, for the first time since 30 July 2013, the price of Brent oil sank below $108 a barrel, with the WTI oil price settling below $105 a barrel.

This week a number of Federal Reserve representatives spoke about the regulator’s plans to start scaling back the QE program during the year. Atlanta Fed Bank President Dennis Lockhart suggested that this might happen at one of the meetings to be held in 2013. Chicago Fed Bank CEO Charles Evans didn’t rule out the program pullback happening already in September, that is following the next scheduled Federal Reserve meeting. Upon completing the two-day meeting commenced on Wednesday, the Bank of Japan may also announce its unwillingness to expand the economic stimulus program.

On the Forex market, EUR/USD is going up. The pair could reach 1.3417 today.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Monday Results

On Monday world financial markets finished mixed. European final figures were as follows – the German DAX 30 grew 0.25 percent up to 8,359.25 points, the French CAC 40 shed 0.12 percent and made 4,071.68 points while London’s FTSE 100 fell 0.14 percent down to 6,574.34 points.

In Russia the MICEX was up by 0.41 percent reaching 1,388.36 points, and the RTS index gained 0.06 percent up to 1,326.53 points.

In the United States the S&P grew 18.55 percentage points, and the NASDAQ advanced 0.24 percent up to 3,125.93 points.

On London’s IntercontinentalExchange Futures, the price of Brent mix delivery for September rose by $0.35, up to $108.57 a barrel. On the New York Mercantile Exchange, where trading is still going on, contracts for September delivery of Texan light WTI oil went up by $0.06 and their price reached $106.03 a barrel at the intermediate point of the trading session.

On the global currency market, EUR/USD got to 1.3392, after which there was a setback. Now the pair is at a strong support of 1.3275.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets Went Up, So Did Dollar

Yesterday world financial markets closed in the green zone. As such, in Europe the German DAX 30 grew 0.68 percent up to 8,415.76 points, the French CAC 40 was up 0.51 percent and made 4,092.50 points while London’s FTSE 100 advanced 0.57 percent up to 6,611.94 points.

In Russia the MICEX index grew 1.4 percent and got to 1,407.90 points, the RTS index gained 0.93 percent up to 1,338.90 points.

In the USA the Dow Jones index went up by 0.20 percent making 15,451.01 points, the NASDAQ advanced 0.39 percent up to 3,684.44 points, and the S&P gained 0.28 percent reaching 1,694.16 points.

The price of September futures for light WTI oil rose by $0.72, up to $106.83 a barrel. The price of the North Sea petroleum mix of mark Brent Crude Oil went up by $0.85, to $109.82 a barrel.

On the Forex market, EUR/USD closed below the 1.3275 support yesterday. Now its target can be 1.3210.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Euro at a Stop So Far

Yesterday the world’s financial markets finished mixed. Namely, in Europe Germany’s DAX 30 grew 0.27 percent up to 8,438.12 points, France’s CAC 40 went up by 0.53 percent and made 4,114.20 points whereas London’s FTSE 100 shed 0.37 percent down to 6,587.43 points.

In Russia the MICEX index grew 1.14 percent and made 1,423.9 points, the RTS index advanced 1.31 percent and reached 1,356.3 points.

In the USA the Dow Jones fell 0.73 percent and got to 15,337.66 points, the NASDAQ dropped 0.41 percent and reached 3,669.27 points while the S&P 500 fell 0.52 percent and made 1,685.39 points.

The price of September futures for light WTI oil rose by $0.02, up to $106.85 a barrel. The price of September futures for the North Sea petroleum mix of mark Brent Crude Oil went up by $0.38, or 0.3 percent, to $110.20 a barrel.

According to mass media, due to positive data from Germany and France the GDP of 17 eurozone countries increased by 0.3 percent during the second quarter in comparison with the previous three months. The annualized GDP contracted by 0.7 percent. Analysts, polled by the Bloomberg agency, predicted GDP growth of 0.2 percent compared to the first quarter of 2013 and a 0.8% decrease in respect to the second quarter of 2012. As to the revised data, in the first quarter the Eurozone’s GDP decreased by 0.3%, instead of 0.2% expected earlier, in comparison with the fourth quarter.

On the Forex market, EUR/USD is at the resistance level currently.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Oil Prices Rising Due to Egypt Turmoil

Yesterday world financial markets closed mainly with a slump in major indices. As such, in Europe the British FTSE 100 shrank by 1.58 percent down to 6,483.34 points, the German DAX 30 fell 0.73 percent down to 8,376.29 points while the French CAC 40 shed 0.51 percent and made 4,093.2 points.

On the Russian floor, the MICEX index fell 2.28 percent down to 1,391.37 points, and the RTS index went down by 2.13 percent to 1,327.49 points.

In the USA the Dow Jones index dropped 1.47 percent down to 15,112.19 points, the NASDAQ fell 1.72 percent and reached 3,606.12 points while the S&P500 shed 1,43 percent down to 1,661.32 points.

On the commodity market, the price of September futures for Brent Crude Oil rose by $0.91 making $111.11 a barrel. The price of September futures for light WTI oil grew by $0.48, up to $107.33 a barrel.

Oil prices are going up due to the escalating conflict in Egypt. Since a major part of oil deliveries are transported through the Suez Canal and the Suez-Mediterranean pipeline controlled by Egypt, investors are wary of problems with oil deliveries, which, in turn, leads to a hike in oil prices.

The EUR/USD pair reached the earlier mentioned level of 1.3210. Now the pair is once again in the range that doesn’t allow for further predictions regarding its movement. At this point the pair is dependent on macroeconomic news.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

No Common Trend Last Friday

On the last day of the previous trading week the world’s financial markets finished mixed. As such, Europe saw the British FTSE 100 grow 0.26 percent up to 6,499.99 points, the German DAX 30 – 0.19 percent up to 8,391.94 points and the French CAC 40 – 0.75 percent up to 4,123.89 points.

The Russian stock exchange had mixed index results – the MICEX fell 0.79 percent down to 1,380.31 points whereas the RTS index advanced 0.62 percent up to 1,331.56 points.

In the USA the Dow Jones index dropped 0.20 percent down to 15,081.47 points, the NASDAQ fell 0.09% and reached 3,602.78 points while the S&P 500 shed 0.33 percent and made 1,655.83 points.

On the commodity market, oil prices are going up because of the continuing unrest in Egypt. The price of September WTI oil futures rose by $0.13 and stopped at $107.46 a barrel. The price of the North Sea petroleum mix of mark Brent Crude Oil went up by $0.80, to $110.40 a barrel.

On the global Forex market, EUR/USD is still basically at the same rate after it couldn’t break through the 1.3880 resistance level. One has to wait for now.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Slump on Markets Yesterday

On Monday world financial markets closed mainly with a slump in major indices. In particular, in Europe Britain’s FTSE 100 fell 0.53 percent getting to 6,465.73 points, Germany’s DAX 30 shed 0.31 percent down to 8,366.29 points, and France’s CAC 40 dropped 0.97 percent going down to 4,083.98 points.

In Russia the MICEX index, on the contrary, grew 0.1 percent up to 1,382.30 points whereas the RTS index lost 0.09 percent and stopped at 1,322.30 points.

In the United States the Dow Jones index fell 0.47 percent and reached 15,010.74 points, the NASDAQ sank by 0.38 percent down to 3,589.09 points, and the S&P 500 shed 0.59 percent down to 1,646.06 points.

On the commodity market, the price of September futures for light WTI oil lowered by $0.36, down to $107.10 a barrel. The price of October futures for the North Sea petroleum mix of mark Brent Crude Oil went down by $0.50, to $109.90 a barrel.

There are no changes on the Forex market so far. Today markets are in anticipation – tomorrow the US Federal Reserve’s July meeting minutes will be published. Market players hope to get clues from the minutes as to the extent of the QE3 cut.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Another Slump

On Wednesday the world’s financial markets once again closed with a fall of major quotations due to reports that Greece would need a third bailout tranche in the middle of 2014.

In Europe the British FTSE 100 fell 0.97 percent down to 6,390.84 points, the German DAX 30 shed 0.18 percent down to 8,285.41 points, and the French CAC 40 dropped 0.34 percent making 4,015.09 points.

On the Russian stock exchange the MICEX index climbed down by 0.05 percent to 1,376.6 points while the RTS index fell 0.4 percent down to 1,312.47 points.

In the USA the Dow Jones shed 0.05 percent down to 15,002.99 points whereas the NASDAQ gained 0.68 percent stopping at 3,613.59 points, with the S&P 500 also growing – by 0.38 percent up to 1,652.35 points.

On the commodity market, the price of October futures for light WTI oil lowered by $1.26 reaching $103.85 a barrel at the end of the day. The price of October futures for the North Sea petroleum mix of mark Brent Crude Oil dropped by $0.34 finishing trading at $109.81 a barrel.

On the Forex market, EUR/USD is again at the resistance level 1.3380.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

And Another Slump

Yesterday world stock markets closed in the red zone. As such, in Europe the British FTSE 100 fell 0.79 percent down to 6,440.97 points, the German DAX 30 shed 2.28 percent down to 8,242.56 points, and the French CAC 40 dropped 2.42 percent getting down to 3,968.73 points.

In Russia the MICEX index went down by 0.93 percent to 1,374.21 points while the RTS index fell 1.52 percent down to 1,304.33 points.

In the USA the Dow Jones index shed 1.14 percent down to 14,776.13 points, the NASDAQ fell 2.16 percent down to 3,578.52 points, and the S&P 500 dropped 1.59 percent down to 1,630.48 points.

Due to the escalating situation with Syria, yesterday the global commodity market saw the price of October futures for the North Sea petroleum mix of mark Brent Crude Oil rise by $3.63, up to $114.36 a barrel. The price of October futures for light WTI oil went up by $3.09 and made $109.01 a barrel.

On the Forex market, there are no changes for EUR/USD at this point.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Indices on the Rise, Oil Prices Going Down

Yesterday financial markets closed mixed. As such, stock floors saw major indices go up while oil prices tumbled down.

Trading in Europe resulted in a rise of stock indices – the British FTSE 100 grew 0.82 percent up to 6,483.05 points, the German DAX 30 advanced 0.45 percent up to 8,194.55 points, and the French CAC 40 gained 0.65 percent going up to 3,986.35 points.

On the Russian floor the MICEX index went up by 0.16 percent to 1,371.89 points while the RTS index grew 0.08 percent up to 1,300.67 points.

On the commodity market, the price of October futures for the North Sea petroleum mix of mark Brent fell by $1.45 stopping at $115.16 a barrel. The price of October light WTI oil futures lowered by $1.30, down to $108.80 a barrel.

On the Forex market, EUR/USD failed to fix above 1.3380. Now the dollar is going up in light of the data for US GDP. According to mass media, in the second quarter of 2013 the actual growth of the USA’s GDP was 2.5 percent whereas analysts expected the figure to be 2.2 percent. The dollar hike may let up already at 1.32.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Crash

Yesterday the world’s financial markets closed in the red zone. In particular, in Europe Britain’s FTSE 100 fell 1.08 percent down to 6,412.93 points, Germany’s DAX shed 1.12 percent down to 8,103.15 points, and France’s CAC 40 dropped 1.32 percent down to 3,933.78.

On the Russian floor, the MICEX index shed 0.53 percent down to 1,364.65 points while the RTS index fell 0.75 percent down to 1,290.96 points.

In the USA the Dow Jones went down by 0.21 percent to 14,810.31 points, the NASDAQ fell 0.84 percent down to 3,589.87 points, and the S&P 500 was down by 0.32 percent reaching 1,632.97 points.

On the commodity market, price quotations for oil futures went down due to diminished risk of strikes on Syria. On NYMEX, the price of WTI oil for October lowered by $1.15 and made $104.65 a barrel. On London’s ICE, the price of Brent oil futures for October delivery went down by $1.15 and got to $114.01 a barrel.

On the Forex market, EUR/USD stopped at the support level of 1.32. Now the pair may roll back to 1.3275, after which clearer signals would be needed for further movement again.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

No Common Direction So Far

Yesterday world financial markets closed mixed. As such, in Europe the British FTSE 100 grew 1.45 percent and made 6,506.19 points, the French CAC 40 advanced 1.84 percent up to 4,006.01 points, and the German DAX went up by 1.74 percent reaching 8,243.87 points.

In Russia the MICEX index grew 0.5 percent up to 1,374.71 points while the RTS index went up to 1,296.87 points.

In the USA the Dow Jones Industrial Average stayed at 14,810.31 points, the S&P 500 grew 0.82 percent up to 1,645.55 points, and the NASDAQ got to 3,073.81 points.

On the commodity market, the price of October Brent Crude Oil futures rose by $0.32, up to $114.33 a barrel. The price of October futures for light WTI oil dropped by $0.83, down to $106.82 a barrel.

On the Forex market, EUR/USD went down to the next support level – the long-term daily MA.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Markets on a Swing

On Tuesday stock markets closed predominantly on the rise. However, in Europe the British FTSE 100 fell 0.58 percent down to 6,468.41 points, the DAX 30 shed 0.77 percent down to 8,180.71 points, and the French CAC 40 dropped 0.8 percent down to 3,974.07 points.

In Russia the MICEX index went up by 0.46 percent to 1,373.82 points while the RTS index climbed up by 0.09 percent to 1,293.11 points.

In the USA the Dow Jones index advanced 0.16 percent up to 14,833.96 points, the NASDAQ grew 0.63 percent up to 3,612.61 points, the S&P 500 gained 0.42 percent and made 1,639.77 points.

On the IСE Futures Europe, the official price of Brent oil rose by $1.67, up to $115.68 a barrel. On NYMEX, the official price of WTI oil went by $0.89 and reached $108.54 a barrel.

On the global Forex market, EUR/USD is still at the long-term MA. One has to wait for now.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

EUR/USD at Crossroads

Yesterday world financial markets finished with a slight rise in indices. Investors’ sentiments were influenced by the data for the Eurozone as well as by the information that the U.S. Senate Foreign Relations Committee had voted for the military action against Syria. According to the Eurostat data, in the second quarter of 2013 the GDP of 17 eurozone countries increased by 0.3 percent in comparison with the last quarter. At the same time, it’s worth noting that the GDP shrank by 0.5 percent compared to the second quarter of 2012.

In Europe the British FTSE 100 grew 0.10 percent up to 6,474.74 points, the German DAX 30 advanced 0.19 percent up to 8,195.92 points, and the French CAC 40 gained 0.16 percent going up to 3,980.42 points.

In Russia the MICEX index grew 0.13 percent up to 1,375.66 points while the RTS index advanced 0.42 percent up to 1,298.53 points.

In the USA the Dow Jones gained 0.65 percent reaching 14,930.87 points, the S&P 500 grew 0.81 percent up to 1,653.08 points, with the Nasdaq Composite going up by 1.01 percent to 3,649.04 points.

The global oil market saw the price of October futures for the North Sea petroleum mix of mark Brent Crude Oil drop by $0.77, down to $114.91 a barrel. The price of October futures for light WTI oil fell by $1.31, down to $107.23 a barrel.

On the world’s Forex market, EUR/USD is gripped between the medium-term MA and the long-term MA. Technically, it’s easier for the pair to go up now. However, it all depends on the macroeconomic situation.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Impressive Hike on Markets

Yesterday world financial markets posted quite a noticeable hike of indices due to the release of eurozone statistics. The ECB and the Bank of England kept the base interest rates at 0.5 percent. Moreover, ECB President Mario Draghi announced the regulator’s plans to keep the rates low for a lengthy period of time. Also, the ECB published its forecast for eurozone economic growth that predicts a 0.4% decline in 2013 whereas earlier the figure was expected to be 0.6%.

As such, in Europe the British FTSE 100 advanced 0.89 percent up to 6,532.44 points, the German DAX 30 went up by 0.48 percent to 8,234.98 points, and the French CAC 40 grew 0.66 percent up to 4,006.80 points.

In Russia the MICEX index grew 3.4 percent up to 1,422.4 points while the RTS index advanced 3.18 percent up to 1,339.8 points.

In the USA the Dow Jones gained 0.04 percent going up to 14,937.48 points, the S&P grew 0.12 percent up to 1,655.08 points, the Nasdaq went up by 0.27 percent and made 3,658.79 points.

On the IСE Futures Europe, the official price of Brent oil rose by $0.35 and reached $115.26 a barrel. On NYMEX, the official price of WTI oil grew by $1.14 and made $108.37 a barrel.

On the Forex market, EUR/USD couldn’t get over the medium-term MA and crashed to 1.3120. The closing rate today may already give a clearer picture of the pair’s short-term targets.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Week Ended With a Hike

Last Friday world financial markets closed with a rise of indices due to positive US unemployment data. On European floors, indices finished as follows – the British FTSE 100 grew 0.23 percent up to 6,547.33 points, the German DAX 30 gained 0.49% up to 8,275.67 points, and the French CAC 40 advanced 1.06 percent up to 4,049.19 points.

In Russia the MICEX index grew 0.1 percent up to 1,423.4 points while the RTS index advanced 0.4 percent up to 1,345.6 points.

In the USA the Dow Jones dropped 0.10 percent down to 14,922.50 points, the NASDAQ grew 0.03 percent up to 3,660.01 points, the S&P 500 climbed up by 0.01 percent getting to 1,655.17 points.

The price of October futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.86, up to $116.12 a barrel. The price of October futures for light WTI oil went up by $2.16 reaching $110.53 a barrel.

On Friday there was published US nonfarm payrolls data as well as unemployment data for August 2013. According to the report, the number of jobs increased by 169,000 and the jobless rate dropped by 0.1 percent, down to 7.3 percent, in comparison with the previous month.

Besides, investors continue to keep a close watch on the situation around Syria. So far, the talks between the USA and Russia at the G20 summit haven’t yielded results.

On the Forex market, EUR/USD couldn’t get over 1.3120 either. Now the pair is again between the medium-term MA and the long-term MA. More waiting is to be done here.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Some Stir on Markets

Due to positive statistics from China, yesterday world financial markets closed mainly on the rise, with the exception of European stock exchanges. Thus, the British FTSE 100 fell 0.03 percent down to 6,530.74 points, the German DAX climbed up by 0.01 percent to 8,276.32 points whereas the French CAC 40 dropped 0.22 percent down to 4,040.33 points.

On the Russian floor, the MICEX index grew 2 percent up to 1,451.54 points while the RTS index advanced 2.4 percent up to 1,380.37 points.

In the USA the Dow Jones gained 0.94 percent getting up to 15,063.12 points, the NASDAQ grew 1.26 percent up to 3,706.18 points, and the S&P 500 advanced 1 percent up to 1,671.71 points.

On the commodity market, London’s ICE Futures Europe saw the official price of Brent oil lower by $2.40, down to $113.72 points. On NYMEX the price of WTI oil fell by $1.01 and made $109.52 a barrel.

On the Forex market, EUR/USD went up to the resistance level 1.3275. In the nearest future the pair may reach 1.3350. At this point, it’s hard to predict the pair’s further movement.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Index Hike

Yesterday the world’s financial markets closed mainly in the green zone due to the USA’s intention to delay a decision about a military strike on Syria.

In Europe the British FTSE 100 grew 0.07 percent up to 6,588.43 points, the German DAX 30 advanced 0.58 percent up to 8,495.73 points, and the French CAC 40 gained 0.06 percent reaching 4,119.11 points.

In Russia the MICEX index grew 0.04 percent up to 1,454.12 points while the RTS index went up by 0.25 percent to 1,394.03 points.

In the USA the Dow Jones was up by 0.89 percent getting to 15,326.60 points, the NASDAQ grew 0.11 percent up to 3,725.01 points, and the S&P advanced 0.31 percent up to 1,689.13 points.

On the global oil market, the price of October futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.25, up to $110.50 a barrel. The price of October futures for light WTI oil went up by $0.17, to $107.56 a barrel.

On the Forex market, EUR/USD is still near 1.3275.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

No Common Trend Yet

Last Friday world financial markets closed mixed. In particular, in Europe the British FTSE 100 fell 0.08 percent down to 6,583.80 points, the German DAX advanced 0.18 percent up to 8,509.42 points, and the French CAC 40 grew 0.19 percent up to 4,114.50 points.

In Russia the MICEX index dropped 0.65 percent down to 1,440.74 points while the RTS index fell 0.35 percent down to 1,396.57 points.

In the USA the Dow Jones grew 0.45 percent up to 15,369.60 points, the NASDAQ advanced 0.18 percent up to 3,722.51 points, and the S&P gained 0.21 percent reaching 1,686.94 points.

Oil prices are going up slightly at this point. In anticipation of the results of the talks on Syria, investors are not in a hurry to take decisive steps. The price of October futures for the North Sea petroleum mix of mark Brent Crude Oil rose by $0.15, up to $112.78 a barrel. The price of October futures for light WTI oil lowered by $0.39, down to $108.21 a barrel.

Today EUR/USD opened with a huge upward gap. The pair’s advancement has been slowed down by the resistance level 1.3380 so far. In the upcoming days, the pair should cover the gap, i.e. go down to 1.3302.

Anna Gorenkova
NordFX Analyst

 

[Julia NordFX]

Stock Markets on the Up

Yesterday the world’s stock markets finished on the rise. As such, in Europe Britain’s FTSE 100 grew 0.59 percent up to 6,622.86 points, Germany’s DAX 30 advanced 1.22 percent up to 8,613 points, and France’s CAC 40 posted a 0.92 percent rise up to 4,152.22 points.

In Russia, the MICEX index grew 2.06 percent and made 1,470.48 points while the RTS went up by 2.83 percent to 1,436.14 points.

In the United States, the Dow Jones advanced 0.77 percent up to 15,494.78 points, the S&P grew 0.57 percent up to 1,697.60 points whereas the Nasdaq fell 0.12 percent down to 3,717.85 points.

On the commodity market, NYMEX price quotations for October WTI oil futures dropped by $1.62, down to $106.59 a barrel. On London’s ICE, the price of Brent futures for October delivery lowered by $1.63 and reached $110.07 a barrel.

On the Forex market, EUR/USD is gradually moving to 1.3302.

Anna Gorenkova
NordFX Analyst