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All Eyes on ECB

NordFX NordFX
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Mid-week the world’s financial markets closed on a positive note. In Europe, the British FTSE 100 advanced 1.63 percent up to 6,728.04 points, the German DAX grew 0.41 percent up to 10,299.23 points, and the French CAC 40 added 0.87 percent closing at 4,484.82 points. The market is waiting for the outcomes of the ECB meeting today. Players are confident that the ECB will announce the launch of its quantitative easing program for the eurozone. According to some media sources, the Central Bank is planning to buy bonds for 50 billion euro monthly till the end of 2016. The total purchasing pool will make 550 billion euro.

In Russia, market players also cheered up. As oil prices went up, the MICEX index grew 3 percent up to 1,618.17 points, and the RTS index advanced 3.42 percent up to 782.13 points.

In the USA, the Dow Jones Industrial Average gained 0.22 percent up to 17,554.28 points, the Standard & Poor’s 500 grew 0.47 percent up to 2,032.12 points, and the NASDAQ Composite picked up 0.27 percent closing at 4,667.42 points.

The NYMEX price of February WTI oil futures rose by $1.31 and closed at $47.78 a barrel yesterday. On London’s ICE, Brent oil futures for March went up by $1.04 and reached $49.03 a barrel.

On the Forex market, EURUSD is still within the same range as yesterday. However, the euro may drastically change its medium-term trend today if the ECB announces the start of the QE program.

Anna Gorenkova
NordFX Analyst

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