ECB Lowered Interest Rates

November 8, 2013

Yesterday world financial markets closed mixed once again. Yesterday the ECB cut its interest rate to a record low of 0.25%.  

European indices were mainly on the rise – the FTSE 100 fell 0.61 percent down to 6,700.48 points, the German DAX grew 0.66 percent up to 9,100.80 points, and the French CAC 40 advanced 0.13 percent up to 4,292.66 points. 

In Russia, the MICEX index gained 0.62 percent reaching 1,509.25 points while the RTS index grew 0.64 percent up to 1,468.22 points.  

In the USA, the industrial Dow Jones slumped 0.97 percent down to 15,593.98 points, the S&P 500 BMI fell 1.32 percent down to 1,747.15 points, and the hi-tech NASDAQ shed 0.1 percent making 3,857.33 points.

The price of December futures for the North Sea petroleum mix of mark Brent Crude Oil lowered by $ 1.78, down to $103.46 a barrel. The price of December futures for light WTI oil went down by $0.60, to $94.20 a barrel.

On the Forex market, EUR/USD kept going down without a major correction and finally covered the gap from 16 September 2013. At the same time, the pair stopped at the long-term daily MA.  

Anna Gorenkova, NordFX Analyst

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