Bearish Dominance on Markets

January 29, 2015

Mid-week the world’s financial markets closed mainly with a decline of major indices. Yesterday the US Federal Reserve decided to keep the key interest rate at 0-0.25%, which was expected by market players.

In Europe, the French CAC 40 fell 0.29 percent down to 4,610.94 points, the German DAX grew 0.78 percent up to 10,710.97 points, and the British FTSE 100 gained 0.21 percent reaching 6,825.94 points.

The Russian market declined on the heels of oil prices and a weakening ruble. The MICEX index fell 1.57 percent down to 1,647.71 points while the RTS index dropped 2.32 percent down to 765.37 points.

In the USA, the Dow Jones Industrial Average shed 1.13 percent going down to 17,191.37 points, the S&P BMI fell 1.35 percent to 2,002.16 points, and the NASDAQ was down by 0.93 percent getting to 4,637.99 points.

The NYMEX price of WTI oil futures for March went down by $1.78 and made $44.45 a barrel. On London’s ICE, the price of March Brent oil futures dropped by $1.13 and closed at $48.47 a barrel on Wednesday.

On the Forex market, the EUR/USD pair continues its correction.  

Anna Gorenkova, NordFX Analyst

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