S&P Downgraded Russia's Rating

January 27, 2015

Yesterday world financial markets closed mixed. In Europe, the British FTSE 100 grew 0.29 percent up to 6,852.40 points, the German DAX advanced 1.4 percent up to 10,798.33 points, and the French CAC 40 gained 0.74 percent up to 4,675.13 points.

In Russia, the MICEX index dropped 1.76 percent to 1,642.37 points, and the RTS index plunged all the 4.83 percent down to 781.31 points. Russian market players’ sentiments were impacted by falling oil prices. Besides that, Standard & Poor's Ratings Services downgraded Russia’s long- and medium-term foreign currency rating to junk with a negative outlook. Markets will be reacting to this event today as well.  

In the USA, the Dow Jones Industrial Average added 0.04 percent closing at 17,678.70 points, the S&P 500 BMI grew 0.26 percent up to 2,057.09 points, and the NASDAQ gained 0.29 percent going up to 4,771.76 points.

The NYMEX price of WTI oil futures for March went down by $0.44 and made $45.15 a barrel. On London’s ICE, the price of Brent oil futures for March dropped by $0.63 and closed at $48.16 a barrel.

On the Forex market, EUR/USD started a correction after the previous sharp decline of the euro. The pair may go up all the way to 1.1550.

Anna Gorenkova, NordFX Analyst

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