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EUR/USD at a Standstill

Yesterday world financial markets posted mixed results. European equity went up – the FTSE 100 grew 0.52 percent up to 6,620.10 points, the DAX 30 gained 0.14% going up to 10,257.13 points, and the САС 40 advanced 1.16 percent finishing the trading session at 4,446.02 points.

The Russian market wrapped up the day with a drop. As such, the MICEX index fell 0.34 percent down to 1,570.97 points, and the RTS index declined 1.34 percent reaching 756.27 points. Investors’ sentiments were influenced by falling oil prices and the IMF’s report. The IMF expects Russia’s GDP to decrease by 3% in 2015 whereas its earlier forecast was a 0.5% growth.

In the United States, the Dow Jones Industrial Average added 0.02 percent making 17,515.23 points, the Standard & Poor's 500 grew 0.16 percent up to 2,022.55 points, and the NASDAQ Composite gained 0.44 percent closing at 4,654.85 points.

The NYMEX price of WTI oil futures for February went down by $2.30 and got to $46.39 a barrel. On London’s ICE, the price of Brent oil futures for March dropped by $0.85 and reached $47.99 a barrel.

On the Forex market, EUR/USD isn’t making any headway for now. The pair’s upper correction boundary is 1.1720 but the downward trend remains.

Anna Gorenkova
NordFX Analyst

Wednesday, 21 Jan, 2015 / 11:57

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