🔽 Indices and commodities deepen sell-off, DE30 down 1.5%
Equity market indices as well as commodities extend downward move today. Major indices from Europe trade over 1% lower on the day with DE30 dropping almost 1.5%. Situation looks similar to the previous week when indices drop during the first three days. However, a strong recovery move occured in the later part of the previous week, allowing indices to recover. Will it be the same this time? We shall see. Today's FOMC minutes release at 7:00 pm BST is not expected to provide any details on the timing of QE taper as US central bankers stressed that no discussions on the matter took place. However, if minutes hint that such discussion in fact took place, pressure on the markets may intensify.
DE30 managed to reach a fresh intraday all-time high yesterday but moods deteriorated afterwards. Index is dropping around 1.5% today and is approaching recent local lows and 50-session moving average in the 15,050 pts area. Source: xStation5
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