Further Slump on Markets

October 10, 2014

Yesterday world financial markets closed mainly with a decline of major indices. As such, in Europe, the British FTSE 100 fell 0.78 percent down to 6,431.85 points, the French CAC 40 shed 0.48 percent down to 4,148.08 points whereas the German DAX 30, on the contrary, grew 0.11 percent finishing the trading session at 9,005.02 points.

In Russia, the MICEX index advanced 0.33 percent up to 1,384.33 points and the RTS index – 0.57 percent up to 1,088.80 points.

In the USA, the Dow Jones fell 1.97 percent down to 16,659 points, the S&P 500 BMI slumped by 2.07 percent closing at 1,928 points, and the NASDAQ Composite dropped 2.02 percent down to 4,378 points.

Global oil prices went down to the lowest level in two years due to an increase of oil production by OPEC countries. The NYMEX price of WTI oil futures for November dropped by $1.54, down to $85.77 a barrel. On London’s ICE, the price of Brent oil futures for November delivery went down by $1.33 and closed at $90.05 a barrel.  

On the Forex market, EUR/USD is lacking activity. The pair can start a prolonged correction in case there are no significant macroeconomic events.

Anna Gorenkova, NordFX Analyst

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