Markets Are Undecided

December 30, 2014

Yesterday world financial markets closed mixed again. In Europe, the British FTSE 100 grew 0.30 percent up to 6,629.73 points, the French САС 40 advanced 0.49 percent up to 4,316.94 points, and the German DAX gained 0.04 percent getting to 9,925.63 points. Markets got a boost from Deutsche Bundesbank President Jens Weidmann’s announcements. He said that GDP growth in 2015 would most likely exceed forecasts as they don’t fully reflect all positive economic consequences of the drop of oil prices.

All eyes are also on Greece at this time where the parliament wasn’t able to elect a new president for the third time yesterday. This means that the country will hold snap elections early in 2015. Syriza, the Coalition of the Radical Left, has good chances of winning the elections.     

On the Russian floor, the MICEX index grew 1.07 percent up to 1,432.94 points whereas the RTS index dropped 4.04 percent altogether and stopped at 795.09 points.

In the USA, the Dow Jones Industrial Average fell 0.09 percent down to 18,032.23 points, the S&P 500 gained 0.09 percent closing at 2,090.57 points, and the NASDAQ Composite added 0.001% reaching 4,806.91 points.

The NYMEX price of WTI oil futures for February shed $1.12 and made $53.61 a barrel. On London’s ICE, Brent oil futures for February went down by $1.57 and reached $57.88 a barrel.  

On the Forex market, EUR/USD isn't making any headway. It might be worth minimizing your trades before the New Year break.

Anna Gorenkova, NordFX Analyst

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