EUR/USD Needs a New Impetus

February 11, 2015

Yesterday world financial markets posted mixed results – there was a rise in Europe and the USA whereas Russia’s equity market experienced another fall making after oil prices.

On Tuesday, European stock indices went up due to the announcement by EU Commission spokeswoman Mina Andreeva that the European Commission was working on a plan to help Greece stay within the eurozone. Towards this end, Greece would most likely be offered a 6-month extension to pay its debts. Besides, the Eurogroup is to hold an emergency meeting today where it’s expected to hear out Greece’s bridge deal proposal to get more financing for the country.

These events led to the British FTSE 100 falling 0.12 percent down 6,829.12 points, the French CAC 40 growing 0.96 percent up to 4,695.65 points and the German DAX advancing 0.85 percent up to 10,753.83 points.

Against this very background, the US equity market was up – the Dow Jones grew 0.79 percent to 17,868.76 points, the S&P 500 gained 1.07 percent getting to 2,068.59 points, and the NASDAQ advanced 1.3 percent up to 4,787.64 points.

Russia’s stock market posted a drop following falling oil prices. As such, the MICEX index finished the trading session with a 0.35% decline to 1,742.35 points, and the RTS index lost 1.74 percent reaching 825.89 points.

On the MYMEX, the price of WTI oil futures for March went down by $2.84 and made $50.02 a barrel. On London’s ICE, the Brent oil future for March delivery dropped by $1.91 and closed at $56.43 a barrel.  

On the global Forex market, EUR/USD hasn’t displayed much movement at all for two days in a row. Players are waiting for the news that could shed some more light on the macroeconomic situation in the euro region.

Anna Gorenkova, NordFX Analyst

Publication source
NordFX information  NordFX reviews

September 29, 2016
Commodity currencies jump as Oil rally following output-cap deal
Volatility increased significantly on Wednesday despite the lack of economic releases today. However, all eyes were turned on OPEC meeting along with crude oil inventories during the U.S trading session...
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’s informal meeting and ongoing discussions over the results of the first presidential debate created explosive levels of volatility...
September 28, 2016
Asian shares traded in green as Europe slowly plunges
US Dollar can't get out of the range of 95.00-95.50 after the FED has investors waiting for the results of Algiers meeting, where Oil officials will try to work out measures to level energy market volatility...

Orbex Rating
FXTM Rating
HotForex Rating
OANDA Rating
XM Rating
FXCM Rating

365BinaryOption Rating
OptionFair Rating
TropicalTrade Rating
Empire Option Rating
Porter Finance Rating
Anyoption Rating