Two Days before Default

October 15, 2013

Stock markets finished mixed. As such, in Europe, Britain’s FTSE 100 grew 0.32 percent up to 6,507.65 points, Germany’s DAX 30 shed 0.01 percent down to 8,723.81 points, and France’s CAC 40 advanced 0.07 percent up to 4,222.96 points.

On the Russian floor, the MICEX index dropped 0.19 percent down to 1,510.20 points, the RTS index fell 0.21 percent down to 1,473.97 points. 

On the commodity market, the price of November futures for the North Sea petroleum mix of mark Brent lowered by $0.24, down to $111.04 a barrel. The price of November futures for light WTI oil, on the contrary, rose by $0.39, up to $102.41 a barrel.  

There was no trading on US markets due to a holiday. The US President’s meeting with Congressmen was also postponed. Since default can occur already 17 October, markets are under much strain and indices don’t move significantly.  However, the situation may change drastically very soon, and the dollar can gain ground once again.

Anna Gorenkova, NordFX Analyst

 

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