EUR/USD at Crossroads

September 5, 2013

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

 

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