Bank of Japan’s decision to cut the interest rate was quite surprising for the markets and has led to an increased hunger for risky emerging markets. The rate has been lowered to -0.1% which became the final part of the quantitative easing policy which launched by the “big four” countries. All members including Central banks from the U.S., U.K. and E.U. have revised their policy.

Japan’s index – Nikkei – has responded with a sharp surge by 3%. Chinese ShComp has demonstrated the same gains. WTI futures rose by more than 3% to the $34 level and Brent has bounced up by an impressive 20% to $34.85 after touching the bottom on Tuesday. Additional support came from Russia, which claimed that the coordination of producing levels with OPEC may be resumed soon. On the other side, investors have dismissed the news that Oil supplies from Iran will rise by more than 20% comparing to the average daily levels last year.

European indices opened with abrupt gains: Euro STOXX50 rose by 1.42%.

Russian currency soared to its three-week highs with rising Oil futures and supported by the bids from risk-seeking investors who believe in the currency’s strengthening against the USD in future.

EUR depreciated against USD after the release of equivocal reports of the Eurozone while USD staged its comeback ahead of releases on economic growth of the U.S. in Q4. This morning European session was ticked by the drop to 1.0883 later trimming losses, returning to the 1.0908 level.

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