Slump Slowed Down

October 6, 2014

Last Friday the slump on the world’s financial markets slowed down, and indices finished trading with mixed results. In Europe, the British FTSE 100 grew 1.26 percent up to 6,527.91 points, the German DAX fell 1.99 percent down to 9,195.68 points while the French CAC 40 added 0.92 percent closing at 4,281.74 points.

In Russia, the MICEX index grew 0.6 percent up to 1,384.66 points whereas the RTS index fell 0.27 percent down to 1,092.12 points.

The US stock market closed on the up – the Dow Jones advanced 1.24 percent up to 17,009.69 points, the S&P 500 gained 1.12 percent up to 1,967.90 points, and the NASDAQ Composite finished trading at 4,475.62 points having gone up by 1.03 percent.

American investors’ sentiments were influenced by positive macroeconomic data – the number of new non-farm jobs in the USA increased by 248,000, which is higher than predicted, while the jobless rate dropped to 5.9% from 6.1%.  

On Friday the commodities market saw a price plunge. The NYMEX price of WTI oil futures for November went down by $1.27 making $89.74 a barrel. The ICE price of Brent oil futures for November delivery fell by $1.11 reaching $92.31 a barrel.

On Forex, the dollar continues to go up against other major currencies. Now the next target for EUR/USD may become 1.24.

Anna Gorenkova, NordFX Analyst

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