Dollar Rising Swiftly

September 5, 2014

On Thursday, world financial markets posted mixed results. With that, European indices went up in light of changing relations between Russia and Ukraine – the British FTSE 100 grew 0.06 percent  up to 6,877.97 points, the German DAX advanced 1.02 percent up to 9,724.26 points but the French CAC 40 fell 1.65 percent down to 4,494.94 points.

Besides, yesterday the ECB lowered its base interest rate to 0.05% and announced it would launch a quantitative easing program this October, which also had a positive impact on investors’ sentiments and index dynamics.

In Russia, indices responded to the news of a truce in Ukraine as well – the MICEX grew 0.56 percent up to 1,457.34 points, and the RTS index gained 0.18 percent ending up at  1,241.51 points.

In the USA, on the contrary, indices closed in the red zone – the Dow Jones Industrial Average dropped 0.05 percent down to 17,069.58 points, the Standard & Poor's 500 shed 0.15 percent finishing at 1,997.65 points, and the NASDAQ Composite fell 0.22 percent down to 4,562.29 points.

On London’s ICE Futures, the price of October Brent oil futures went down by $0.94 reaching $101.83 a barrel. On the New York Mercantile Exchange, the price of the October WTI oil future got lower by $1.09 stopping at $94.45 a barrel.


At the same time on Forex, the dollar went up sharply against other currencies. The EUR/USD pair arrived at the rates of July 2013. With such serious movement, the pair can easily go down to 1.2850.

Anna Gorenkova, NordFX Analyst

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