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Volatility is enhanced

On Monday, the global markets continued to decline, however the US exchanges managed to recover from the minimum levels that the indices reached during the day, and Europe went through large-scale sales. The oil market managed to maintain a relative stability yesterday by being traded in the area of 32.80-33.20 dollars per barrel. The decline of the European indices reached 3.3%-3.5% (the German DAX, the French CAC40), one of the strongest declines in the recent times. Yesterday added another portion of negativity to the global investors. Factors of the problematic status of the European banks and their stability came into the game as well:  the uncertain macroeconomic data, the US data and the signs of economic slowdown due to the increasing inflation pressure. The recent corporate banking reports was brought back to the news feed the term: "bad debts" of the European banks. Based on this, the Greek market lost 7% of capitalization yesterday. Apart from this, the strengthening European currency puts pressure on the European exporters and as a result on the markets of the Old World.

Today, the trades on the FOREX market are multidirectional. The US dollar is strengthening against the developed currencies: Euro, Swiss Franc and the Japanese Yen. The Japanese currency dropped to the minimum levels of September 2014. Because of that, the Japanese stock index Nikkei lost more than 5% during the previous trading session. Commodity currencies are also weakening against the US dollar.

Yesterday, due to the lack of important news, the oil market was traded in the area of $33 per barrel. Currently, the oil quotes are traded at the level of $33.30. Oil stays relatively strong in the formed ranges. With China's return from the long weekend we can expect a cautious continuation of the positive dynamics in the oil market.

The global news background remain negative. Yesterday, the stock markets of the developed countries showed a common decrease against the developing countries. Investors continue to move to the safe assets. Some of the government bonds already showed a negative income but the shelter currencies of the developed countries are at their maximums (Japanese yen and Swiss franc). Yesterday, gold returned to the level of 1200 dollars per ounce and seems as it is not the limit of an excessive demand on the yellow metal. After the market played the local minimum of the dollar, which is caused by the decreased probability of rate hike at the next meeting of the Fed, the US currency may regain support amid the deterioration of the global economic situation. 

9_feb_oil

9_feb_USD

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