13/10/2014 - October Daily Review
- Donald Herison
- English
- MARKETS NEWS
- Hits: 1561
The International Monetary Fund was the main mover of markets at the end of last week. They first downgraded their forecast for global growth in 2015 following weakness in the Eurozone and emerging markets.
Markets reacted negatively and stocks suffered a strong sell off. US markets dropped by their strongest rate in two years. Asian markets were mixed during today’s session, while European markets were higher today, posting gains for the first time in five sessions.
Oil dropped to a 3 year low after the IMF summit. Slower global growth would lead to lower demand for oil and so the price was pushed lower. The price has been under pressure for over 2 months as global demand for oil is slowing.
Gold climbed as a safe haven asset last week. The rapid sell off in the stock market was bullish for Gold as it acts as an alternative investment to equities.
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