Inopportune Time to Enter Market

September 15, 2014

On the last day of the previous trading week, the world’s financial markets closed mixed. As such in Europe, the British FTSE 100 grew 0.11 percent up to 6,806.96 points, the German DAX fell 0.41 percent down to 9,651.13 points whereas the French CAC 40 gained 0.02 percent finishing the trading session at 4,441.70 points.

On Russia’s stock exchange, the MICEX index added 0.61 percent closing at 1,458.52 points, and the RTS index grew 0.38 percent up to 1,213.27 points.

In the USA, the Dow Jones Industrial Average dropped 0.36 percent down to 16,987.51 points, the NASDAQ Composite advanced 0.53 percent up to 4,567.60 points, the S&P 500 BMI grew 0.6 percent up to 1,985.54 points.

Oil prices dropped below $100 a barrel – the NYMEX price of October WTI oil futures went down by $0.56 making $92.27 a barrel, while on London’s ICE, the October Brent oil future slumped by $0.97 and reached $97.11 a barrel.

On the Forex market, there are no changes for EUR/USD so far. The pair is experiencing an upward correction but its scale is unclear yet. On the one hand, the gap from September 25th hasn’t been closed to date, on the other hand, there’re still no grounds for the euro to go up. Thus, it’s risky to enter the market at this point.

Anna Gorenkova, NordFX Analyst

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