Overview of the world’s major financial markets in October 9, 2014

The past week has been difficult for the European indices for the Japanese Nikkei — benchmarks showed steady decline over a long period. The Hang Seng is still able to recover (0.12%), due to stabilization of the situation with the protest movements. Japanese Nikkei (-5,7%) diminished in connection with the decision of the Bank of Japan to leave everything in place, and without any hint of additional stimulus. The German DAX (-5,9%) and the UK FTSE (-4,5%) suffered losses under the influence is rather weak economic data, as well as revised forecasts for a fall in the rate of growth of the world economy. American DJIA and NASDAQ behaved in different directions during the week, in response to the protocol FOMC, then regaining his reaction, but Friday dealt a blow in the form of index fall by 0.8% and 4.3%. respectively.

Foreign exchange market is loved, then selling dollar, as published in the week the FOMC minutes to convince the market that the Fed will not rush into raising rates. Nevertheless, not all currencies earned reducing USD. For example, USD / RUB noted within a week a new historical maximum 40.45 and closed trading at 40.34. Meanwhile, USD / JPY weakened to 107.64 at the close. EUR / USD is also able to strengthen slightly in the week and closed trading at 1.2628. GBP / USD has kept part of the profit on the week to close at 1.6074.

Oil prices continued to remain under pressure all the same worries about global economic growth — weak economic indicators from Europe only convinced investors that demand for energy will continue to fall, and this against the background of growing production volumes. Brent finished trading at around 90.10, for a week to go down to 2.5-year low of 88.35.

Gold and silver results were glad the FOMC minutes and weakening demand for the dollar. XAU / USD pushed back from the lows earlier this week and finished trading at 1,222.95. Meanwhile, XAG / USD closed trading on 17.36.

Forecast for the week 13-17 October

Stock Market

In the coming week in the stock market in the spotlight may be Hong Kong’s HSI and European FTSE and DAX, as China, Germany and the UK are planning to publish the most important economic reports, among whom are the inflation data, and reports on economic expectations, and publications the labor market. Unfortunately, for the most part, from the release can be expected over the weak performance, which may cause further weakening of these indices.

Also note published this week, the financial statements of the largest American companies: Citigroup (C), Intel (INTC) and Bank of America (BAC). Data can provide interesting reasons for trade.


After strong growth in the beginning of last week, the precious metals are in no hurry to rise further. Uncertainty content protocols last Fed meeting for the precious metals market is also not conducive to growth volatility. However, sales in the stock markets, which are observed today can trigger the growth of demand for protective tools in the form of gold and silver.

Oil prices on Friday showed upward correction, which can be the beginning of the short-term reversal, particularly if the United States dollar will remain under pressure. Nevertheless, the sharp appreciation of Brent should not wait — asset may remain under pressure for a long time. From the point of view of technical analysis may be noted that all widely used in the market to determine the levels of the «oversold» and «overbought» indicators stay on the multi-year lows. However, it also becomes the reason for the increased demand. Falling prices in the market exceeded 20% of the June highs, officially confirming the advent of the «bear» cycle. The nearest support level for Brent is now a mark of 88.35. Overcoming it opens the way down to the area of ​​83.00.

Foreign Exchange Market

USD / RUB spent the past week in reaching new historical highs, and as the pair stood at 40.45. Will she be able to go farther, is questionable, as the dynamics of the ruble, unfortunately. Depends on too many unpredictable factors. However, the likelihood of a correction in oil prices causes us to believe that the pair retreated from record highs last week and will be traded in the 40,00-40,20.

Of the major currency pairs can attract the greatest interest GBP / USD, as in the coming week and will be published data on inflation and the labor market — two indicators that the Bank of England uses to make decisions on monetary policy. Unfortunately, we do not expect CPI growth indicators, but rather, on the contrary, it is likely to see lower levels observed within the last few months of slowing growth. However, there is hope for good levels of employment in the labor market that can support a couple in the second half of the week. Range trading in GBP / USD in the coming week may be limited levels 1,5970-1,6220.

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Overview of the world’s major financial markets in October 9, 2014 | Web Trade For All - Forex trading, analytical reviews of the market and help for beginners