Analysis of world markets

USD. The dollar has reached an eight-monthly maximum against a basket of currencies at the Tuesday Asian session. Today oil is the basic motive power of dollar. Growth of dollar falling and oil there were in the conditions of smaller than usually liquidities as the American markets on Mondays have been closed in communication by a holiday of Work Day. It has occurred basically thanks to oil influence. There is a strong communication between oil and dollar. Reduction of oil cost reduces indirect costs of the American consumers which make about 70 % of the USA economy activity that increases speculative quantity and hedging positions in dollar favour. According to a member of FRS Rendalla Krosnera, the USA economy is deeply enough integrated into a world financial system owing to what the American credit crisis became the reason of other countries growth economic delay. Also Krosner has underlined propensity of the American investors to refuse from risk, thus is not noticed the raised demand on unrisk actives that can speak about capital outflow. According to Krosnera, two thirds of investments into USA economy are enclosed in debt papers which do not represent especial risk whereas there is more than half of the USA  investors means enclosed in actions and other securities in the market of Europe and emerging markets. “Proceeding from this data, it is possible to conclude that money of foreign investors is enclosed in the American papers of low variability. As a result of it deficiency payments balance as money resources return American investors exceeds outflow of profit received on the American papers with fixed incomes” grows, - he has added.   

JPY. The market has shown small reaction to sudden leaving of the Japan Prime minister Jasuo Fukuda. On this news  yen has decreased slightly.« Leaving in itself is not the considerable factor. The market interests, will be successor, therefore until all is not becomes clear, as the basic condition of the market expectation »will act, the trader of one European banks makes comments. The dollar grows on oil, however the yen can be kept against dollar while other currencies fall. The yen grows against pound and the Australian dollar as traders close positions« kery trade »in which the Japanese currency with low rates was used as loans for bying of currencies with higher profitableness. As soon as it will stop dynamics of decrease in a yen current rate will return against the bad statistics. Internal sales of cars in Japan have unexpectedly fallen to 14.9 % in August in annual calculation. The tendency to decrease in the given indicator has begun even in the spring against increase of the fuel prices, however in June and July sale were restored. Economists expect continuation of decrease in a break-even sales level in the given sector as the consumption level will continue to decrease owing to deterioration of Japan development economy prospects. The instability period can remain in Japan to elections of the new leader of Liberal-democratic party and the Prime minister, one of traders after Prime minister Jasuo Fukuda declared on Monday has told that he intends to retire, break "a parliamentary jam." 

EUR. Euro current rate falling is caused by negative expectations on the Eurozone. The euro has continued falling after leaders of the European Union have agreed to postpone on Monday negotiations about new cooperation with Russia until Moscow completely will not disengage the armies on position which were to the conflict. The political tension between the European Union and Russia adds pressure upon the European currencies. In a consequence of these expectations the action of consumer sector representatives also become cheaper against the remaining fears connected by that economic easing will continue to affect corporate profits negatively." Rates of economic growth are slowed down, and investors still try to estimate, how much considerably it will affect indicators of companies profit, - the head of world developed markets division Scottish Widows Investment Partnership Jan Vouz marks. - Hardly these fears easy near future ".More analysts it is assured that ECB will leave the base interest rate at session on September, 4th without changes - at level of 4,25 %. Thus last statistical data about falling of Germany businessmen confidence has even more increased fears that the eurozone economy can plunge into recession and the market expects negative comments from representatives ECB about it. The Vice-president of ECB Lukas Papademos has declared that consequences of market crisis subprime can have long negative effect for the markets and in a consequence to lead to blow on financial stability in the Eurozone. Besides in it is industrial to EU sphere system crisis is observed. Activity in industrial sphere of an eurozone in August has decreased the third month successively as the German companies have informed on manufacture decrease for the first time for three years. Manufacturers of an eurozone are under pressure throughout last year as rather high euro current rate, delay of world demand growth and the high prices for oil put bearish pressure upon activity. 

GBP. Sunday comments of the Great Britain Finance Minister the national economy experiences the greatest difficulties for last 60 years, and some mass-media have expressed its opinion as «the worst situation since the Second World War», have caused aggressive sales of pound which has fallen to a two-year minimum against dollar and a historical minimum against euro. The pound has fallen against assumptions of fast decrease in the interest rate by England Bank how the Minister of Great Britain Finance Alister Darling has warned that the country can face with "possibly, the worst" economy recession for 60 years. The number of the approved hypothecary credits in Great Britain in July has fallen to a new record minimum as credit crisis and uncertainty concerning economy continue to affect the habitation market negatively. The data presented by Bank of England on Monday testifies to it. Risks of recession in England remain, as show last economic data so after falling on Monday it is not planned corrections. 

AUD. The reserve bank of Australia has lowered the interest rate at today's session on 25 basic points to 7,0 %. Rate decrease will bring some simplification to buyers of houses, Prime minister Kevin Radd, but only in the beginning has declared.« The decision under the interest rate has been met by approval, but it do not put for celebrating. Interest rates raised long time, and the long period for their decrease »is required, - Radd has told. Rate decrease was the first since December, 2001. The bank of Australia has declared that inflation in the country was high for the last year in the conditions of the limited free capacities and strong growth of demand earlier. Taking into account the previous increase of the rate and toughening credit conditions for some borrowers," essential toughening of financial conditions from the middle 2007 "took place. The payments balance in Australia in the second quarter 2008 has decreased on 12.8 billion the Australian dollars. Decrease on 11.8 billion In the previous period value of an indicator was expected made-19.8 billion" Under forecasts of bank inflation should fall below 3 % in 2010 ", - is told in the accompanying statement.