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Rise on Markets as Fed Report Released

Most of the world’s financial markets finished mid-week trading in the black. As such in Europe, while awaiting the results of the Federal Reserve’s meeting, the British FTSE 100 grew 0.07 percent up to 6,336.48 points, the French CAC 40 advanced 0.46 percent up to 4,111.91 points but the German DAX fell 0.2 percent down to 9,544.43 points.

The Russian market is still going up and down – yesterday the MICEX index dropped 2.11 percent down to 1,413.79 points while the RTS index shot up by 14.16 percent closing at 718.26 points.

US stock indices were on the rise as reports on the Federal Reserve’s meeting results and Fed Chief Janet Yellen’s speech were being released. In its announcement about the key interest rate, the Federal Reserve didn’t use the usual ‘extended period’ any more. Instead, it called for patience. Besides, Yellen indirectly confirmed that the Federal Reserve would consider raising the interest rate already in the middle of 2015. All these factors were taken by market players as proof of economic growth in the USA.

As a result, the Dow Jones added 1.69 percent closing at 17,356.87 points, the S&P 500 dropped 2.04 percent down to 2,012.89 points while the NASDAQ grew 2.12 percent up to 4,644.31 points.

The NYMEX price of the WTI oil future for January rose by $0.54 and made $56.47 a barrel. On London’s ICE, the price of Brent oil futures for February delivery went up by $1.17 and reached $61.18 a barrel.

On the Forex market, the dollar gained quite a bit of ground against the euro. However, EUR/USD didn’t manage to break out of the current 1.2565 – 1.2245 correction range. Nothing drastic has happened there so far.

Anna Gorenkova
NordFX Analyst

Thursday, 18 Dec, 2014 / 11:16

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