Default Averted For Now

October 17, 2013

On Wednesday world financial markets closed mixed again. US Congressmen announced that the deal to raise the government debt ceiling had been reached. The current limit will be extended until 7 February 2014. In Europe, the British FTSE 100 grew 0.34 percent up to 6,571.59 points, the German DAX advanced 0.47 percent up to 8,846 points whereas the French CAC 40 fell 0.29 percent down to 4,243.72 points.  

In Russia, the MICEX index shed 0.01 percent down to 1,531.57 points while the RTS index fell 0.33 percent down to 1,500.25 points.

In the United States, last Tuesday the Dow Jones Industrial Average dropped 0.87 percent down to 15,168.01 points, the Standard & Poor's 500 fell 0.71 percent down to 1,698.06 points, and the Nasdaq Composite went down by 0.56 percent getting to 3,794.01 points.

On the commodity market, NYMEX price quotations for November WTI oil futures rose by $1.08, up to $102.29 a barrel. On London’s ICE, the price of Brent oil futures for November delivery was up by $0.90 reaching $110.86 a barrel.

There are no new developments on the Forex market so far.

Anna Gorenkova, NordFX Analyst

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