Negative Outlook for Chinese and EU Economies

September 23, 2014

Yesterday world equity markets closed in the red due to reports that China’s economy growth could slow down. There were no bright notes in ECB President Mario Draghi’s speech either – he highlighted an unacceptably high unemployment rate in the European Union and great geopolitical tensions around the globe.   

As a result, Europe saw the British FTSE 100 fall 0.67 percent down to 6,773.63 points, the German DAX drop 0.51 percent down to 9,749.54 points and the French CAC 40 – 0.42 percent down to  4,442.55 points.

On the Russian floor, the MICEX index shed 1.31 percent reaching 1,412.83 points and the RTS index fell 1.63 percent ending up at 1,151.16 points.

In the USA, the Dow Jones dropped 0.62 percent down to 17,172.68 points, the S&P 500 declined by 0.80 percent down to 1,994.29 points, and the NASDAQ Composite fell  1.14 percent down to 4,527.69 points.

On the NYMEX, price quotations for October WTI oil futures went down by $0.89 finishing the trading  session at $91.52 a barrel. On London’s ICE, the November Brent oil future went down by 1.42 and made $96.97 a barrel.

There’re no new developments on the Forex market.

Anna Gorenkova, NordFX Analyst

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