A New Slump

September 26, 2014

The rise of rates on world financial markets didn’t last long. Already yesterday indices closed in the red zone again. European trading resulted in Britain’s FTSE 100 falling 0.99 percent down to 6,639.71 points, Germany’s DAX shedding 1.57 percent down to 9,510.01 points and France’s CAC 40 dropping 1.32 percent down to 4,355.28 points.

In Russia, the MICEX index fell 0.40 percent down to 1,436.05 points and the RTS index – 1.15 percent down to 1,175.59 points.

On American floors, the Dow Jones slumped 1.54 percent finishing the trading session at 16,945.80 points, the S&P 500 BMI dropped 1.62 percent down to 1,965.99 points, and the NASDAQ Composite plunged 1.94 percent down to 4,466.75 points.

On the London ICE, the price of Brent oil futures for November rose by $0.05 making $97 a barrel. The NYMEX price of WTI oil futures for November went down by $0.27 reaching $92.53 a barrel.

On the global currency market, EUR/USD arrived at 1.27 yesterday. This is quite a strong support level – not only daily but also weekly. The pair may stop here.

Anna Gorenkova, NordFX Analyst

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