Summary:
- Market sentiment turns bullish, reflected in the NASDAQ price raise.
- The Eurozone is under pressure
NASDAQ Rises
The NASDAQ rose on Thursday in the wake of concerns over the economy and a poor market outlook from tech giant Microsoft (MSFT) affected market sentiment. The NASDAQ jumped more than 2.7% during Thursday's trading session. Favorable economic data has benefitted the NASDAQ.
IXIC Price Chart
Euro Still Strong
On Thursday the Euro is still strong as market participants remain confident in the European Central Banks (ECBs) tightening of monetary policy during the third quarter of the year. The Eurozone is under pressure in the wake of the Russian oil embargo with the possibility of Russia retaliating by potentially cutting off gas from the region, which may aggravate an already bad inflation situation and risk downside potential for the Euro.
Sources: finance.yahoo.com, fxmag.com, poundsterlinglive.com