Downward Tendency Lingers

August 7, 2014

Yesterday world financial markets closed in a varied way in light of macroeconomic data for different countries, however the general sentiment is to sell assets. In Europe, in particular, major stock indices closed in the red zone: Britain’s FTSE 100 fell 0.69 percent down to 6,636.16 points, Germany’s DAX 30 shed 0.65 percent down to 9,130.04 points, and the French CAC 40 dropped 0.61 percent down to 4,207.14 points.

Russia’s indices finished the day with a slump as well: the MICEX index fell 1.71 percent getting to 1,334.66 points while the RTS index plunged 2.56 percent down to 1,160.86 points. 

In the USA, on the contrary, the Dow Jones gained 0.08 percent going up to 16,443.34 points, the NASDAQ grew 0.05 percent up to 4,355.05 points whereas the S&P 500 closed at almost the same rate as on Tuesday – 1,920.24 points.

On the NYMEX, the price of the WTI oil future for September went down by $0.46 making $96.92 a barrel. On London’s ICE, the price of the Brent oil future for September fell by $0.02 and stopped at $104.59 a barrel.

On the Forex market, EUR/USD didn’t post any considerable change either. Most likely, the pair will be experiencing a correction within 1.33-1.3460 for some time.

Anna Gorenkova, NordFX Analyst

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