Spotlight on US Default Threat Again

September 24, 2013

Yesterday world financial markets closed in the red zone. Like a year ago, the pick of the day was the US debt ceiling. According to experts’ forecasts, the current maximum can be reached already in mid-October. This would lead to a default unless the debt cap gets raised once again. However, no talks are held on this issue at this point, which, in fact, causes alarm among investors.

In Europe, the British FTSE 100 fell 0.59 percent down to 6,557.37 points, the German DAX 30 dropped 0.47 percent down to 8,635.29 points, and the French CAC 40 shed 0.75% going down to 4,172.08 points.

In Russia, the MICEX index slumped 0.62 percent down to 1,467.62 points while the RTS index fell 0.79 percent down to 1,451.42 points.

In the United States, the Dow Jones went down by 0.32 percent to 15,401.38 points, the S&P fell 0.47 percent down to 1,701.84 points, and the NASDAQ dropped 0.25 percent down 3,765.29 points.

The price of November futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $1.13, down to $108.09 a barrel. The price of WTI oil futures dropped by $1.25, down to $103.50 a barrel.

On the Forex market, EUR/USD is experiencing a correction after a sharp rise. At this time, the pair’s prospects are unclear. If the pair doesn’t manage to get fixed below 1.3460, it will be easier for it to go up – the dollar is too weak now.

Anna Gorenkova, NordFX Analyst

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