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EUR/USD Dropped Lower Than Expected

Yesterday world financial markets closed mainly on the rise. In Europe, the FTSE 100 grew 0.28 percent to 6,721.51 points, the German DAX advanced 2.66 percent up to 11,805.99 points, and the CAC 40 shot up by 2.37 percent to 4,997.75 points.

On the Russian floors, the MICEX index gained 0.37 percent going up to 1,671.47 points, and the RTS index added 0.31 percent reaching 847.98 points.

Amid concerns that the Federal Reserve may raise the key interest rate at the meeting 17 March, the US equity market was on the decline – the Dow Jones fell 0.16 percent to 17,635.39 points, the S&P 500 shed 0.19 percent down to 2,040.24 points, and the NASDAQ dropped 0.2 percent down to 4,849.94 points.

The NYMEX price of April futures for WTI oil went down by $0.12 and reached $48.17 a barrel. On London’s ICE, on the contrary, the price of Brent oil futures for April rose by $1.15 and made $57.54 a barrel.

On the global Forex market, EUR/USD fell even below the expected level of 1.0650. Nonetheless, it’s not a good time to enter the market now as the pair may experience a correction after such a big drop.

Anna Gorenkova
NordFX Analyst

Thursday, 12 Mar, 2015 / 10:34

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