Iran and P5+1 Reached Agreement

April 3, 2015

On Thursday, the world’s equity markets closed mainly on the rise whereas oil prices went down. In Europe, the British FTSE 100 grew 0.35 percent up to 6,833.46 points, the German DAX fell 0.28 percent to 11,967.39 points while the French CAC 40 added 0.24 percent reaching 5,074.14 points.

On Russia’s floors, the MICEX index grew 1.04 percent up to 1,679.24 points, and the RTS index advanced 2.55 percent up to 933.58 points.

In the USA, the Dow Jones gained 0.37 percent getting to 17,763.24 points, the S&P 500 grew 0.35 percent up to 2,066.96 points, and the NASDAQ was up by 0.14 percent making 4,886.94 points.

Oil prices continued to fall yesterday due to reports that Iran and six world powers reached an initial agreement on Iran’s nuclear program. According to it, Iran will decommission two thirds of its enrichment capacity for a 10-year period and will open all its nuclear development programs for monitoring for the next 25 years. In return, international sanctions against Iran’s oil deliveries will be lifted step by step. Investors interpret this as a sign that global oil supply may increase, which would make oil prices drop again.

By Thursday evening, the NYMEX price of WTI oil futures for May went down by $1.43 and made $48.69 a barrel. On London’s ICE, the price of Brent oil futures for May plunged by $3.03 and got to $54.22 a barrel.

On the Forex market, EUR/USD is moving within the correction range of 1.05-1.0960.

Anna Gorenkova, NordFX Analyst

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