Markets Wait for OPEC Meeting Results

November 27, 2014

Yesterday world financial markets closed mixed awaiting the results of the OPEC countries’ meeting. On Europe’s floors, the British FTSE 100 shed 0.03 percent finishing at 6,729.17 points, and the French CAC 49 fell 0.20 percent down to 4,373.42 points. The German DAX 30, on the contrary, grew 0.55 percent ending up at 9,915.56 points.

In Russia, the MICEX index added 0.51 percent going up to 1,537.43 points while the RTS index slumped 2.54 percent down to 1,027.61 points.

In the USA, the Dow Jones Industrial Average grew 0.07 up to 17,827.75 points, the NASDAQ Composite advanced 0.61 percent up to 4,787.32 points, and the S&P 500 BMI picked up 0.28 percent reaching 2,072.83 points.

Oil prices are falling. On the NYMEX, the cost of futures for American light oil of mark WTI went down by $0.40 and got to $73.69 by the end of the trading session. The ICE price of January futures for the North Sea petroleum mix of mark Brent dropped to $77.82 a barrel. Market players are waiting for the results of today’s OPEC meeting.    

On the global Forex market, EUR/USD is still within the correction range of 1.2565-1.24. So far, nothing has managed to push the pair out of and beyond these boundaries.

Anna Gorenkova, NordFX Analyst

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