Euro Rose after ECB Announcements

June 6, 2014

On Thursday, the world’s financial markets closed in a varied manner. Yesterday the ECB told it had lowered its key interest rate to a new minimum and introduced a negative deposit interest rate. With that, during the press conference ECB President Mario Draghi announced substantial measures to ease the money policy.

Nonetheless, in Europe, the British FTSE 100 fell 0.08 percent down to 6,813.49 points, the German DAX 30 grew 0.21 percent up to 9,947.83 points, and the French CAC 40 advanced 1.06 percent up to 4,548.73 points.

On the Russian floor, the MICEX index shed 0.34 percent down to 1,470.70 points whereas the RTS index grew 0.68 percent up to 1,333.86 points.

In the USA, the Dow Jones Industrial Average gained 0.59 percent going up to 16,836.11 points, the NASDAQ advanced 1.05 percent and reached 4,296.23 points while the S&P 500 BMI grew 0.65 percent up to 1,940.46 points.

On the commodities market, the NYMEX price quotations of July WTI oil futures went down by $0.16 getting to $102.48 a barrel. On London’s ICE, the July Brent oil future went up by $0.39 and made $108.79 a barrel.

The ECB President’s announcements led to a sharp hike of the EUR/USD pair on the global Forex market. However, the pair first managed to get over 1.3580 and then sharply went up to 1.3660. Now EUR/USD still has a chance to rise to 1.37.

Anna Gorenkova, NordFX Analyst

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