Japanese Nikkei Index: Again An Outsider

The decrease at the Asian stock markets resumed after a couple of days of moderate growth. Seller support is provided by the Yen growth, although in the debt market a profitability of 10 year bonds, is a little far from the maximum levels previously attained. The reason for this could be the speech given the BoJ Chairman’s Haruhiko Kuroda, who declared his intention to decrease volatility in the debt market, and decrease interest rates by means of a monetary easing program in the long-term. The Japanese Nikkei consequentially lost -5.14%; the USD/JPY decreased to 100.72 this morning.

The eurozone prepared an unpleasant surprise yesterday- labor market which indicated an increase in the number of the unemployed by 21 thousand against the forecast 4 thousand. However, it couldn't roll the EUR/USD. Towards the end of the day, it returned to the day’s maximum levels, having reached 1,2977and rolled away to 1,2940 by the close.

There are some statistics which could influence further development of the EUR/USD pair. We are not expecting any changes in the U.S.A. GDP (Gross Domestic Product), but the number of the unemployed who have submitted applications for receiving a grant, is interesting, especially in light of Rosengren's statements yesterday from FRS, in which he noted that it is possible to reduce the volume of the buying up of bonds, if indicators from the labor market and the economy, will remain stable for a few more months. The lower the unemployment figures, the higher the chances are that the EUR/USD will have to return to testing support on 1,2850.

Following the results of the last trading session, oil prices showed negative dynamics. Besides a noticeable decrease in the developed stock markets, deterioration in the economy development forecasts of the two largest consumers of raw materials - the U.S.A and the People's Republic of China, became negative affecting factors. According to yesterday's data from the American institute of oil (API), oil stocks increased by 4.4 million barrels. As for gasoline, the volume of stocks grew by 1.94 million barrels. Today’s price for Brent is 102.36$ and the price for WTI is 92.87$.