Where Is the Vector?

July 31, 2013

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

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