Oil Prices Gave Markets a Glimmer of Hope for a Rise

January 9, 2015

On Thursday, world financial markets posted an overall rise. Investors were encouraged by a slight stabilization of oil prices. Thus, in Europe, the British FTSE 100 grew 2.44 percent up to 6,576.51 points, the French CAC 40 advanced 3.71 percent up to 4,265.18 points, and the German DAX added 3.47 percent making 9,848.28 points.

On the Russian floors, the RTS index shot up by 8.78 percent reaching 812.02 points, and the MICEX index advanced 4.5 percent up to 1,547.39 points. The indices increased not only due to more stable oil prices but also due to attempts to resolve the crisis in Ukraine taken at the meeting of Russian, German, French and Ukrainian representatives and talks about possibly cancelling sanctions against Russia.

In the USA, the Dow Jones gained 1.8 percent closing at 17,900.80 points, the S&P 500 grew 1.78 percent up to 2,062.01 points, and the NASDAQ advanced 1.84 percent finishing the trading session at 4,736.19 points.

On the NYMEX, the price of WTI oil futures for February rose by $0.14 and made $48.79 a barrel. On London’s ICE, February futures for oil of mark Brent went down by $0.19 and reached $50.96 a barrel. Nonetheless, experts believe that the current stabilization of oil prices is temporary as there haven’t been any radical changes in the world’s economy or oil demand.

On the Forex market, EUR/USD closed below the 9-year support level and never held at it even for a day, which shows that the ‘old’ daily levels can’t be considered as indicative of the pair’s reversal and targets. It would make more sense now to wait for EUR/USD to renew its lows. Besides, the pair hasn’t yet closed the gap formed at the beginning of the week.

Anna Gorenkova, NordFX Analyst

Publication source
NordFX information  NordFX reviews

September 29, 2016
OPEC blinks
Yesterday decision by OPEC to restrict oil supply has pushed the price of crude higher by some 5%. The move took the markets by surprise, with the divisions between Iran (who are still enjoying their return to global markets)...
September 29, 2016
Gold weighed down by US data
The gold price is down for a second straight day today as investors await a raft of data from the US this week which may decide the question of an interest rate hike...
September 29, 2016
Informal OPEC meeting seizes limelight
Global stocks were chaotic on Tuesday with most equities vibrating between losses and gains as the mixture of anticipation ahead of OPEC - informal meeting and ongoing discussions over the results of the first presidential debate created explosive levels of volatility...

Grand Capital Rating
HYCM Rating
Larson&Holz IT Ltd Rating
OctaFX Rating
HotForex Rating
FXCM Rating

Binary Brokerz Rating
Beeoptions Rating
EZTrader Rating
Grand Option Rating
OptionFair Rating
Porter Finance Rating