FX.co ★ Fundamental Analysis, January 12, 2011

The price of oil locked yesterday at a 2.1% climbed over a level of 91 United States dollars for one barrel, oil's highest price level in the last week, this was due to concerns of reduction in oil production due to the clothing of the Alaska oil pipe and an oil field in the North Sea.

The Japanese government announced that it would purchase European obligations in order to aid the region with dealing with its debt crisis. The Asian stock markets responded positively to the announcement, recording index rises. The Tokyo stock exchange rose by 0.2%, the Seoul stock exchange rose by 0.2%, while Hong Kong's stock exchange rose by about 0.8%.

Europe's stock markets set a 28-month high yesterday, on the background of Japan's announcement. The country has joined China in its attempt to aid Europe in braking the continent's debt crisis. By the end of the trading day, the London exchange climbed by 1%, the Frankfurt stock exchange climbed 1.2%, while the Paris exchange climbed by 1.6%.

In the American macroeconomic sphere, the United States Department of labor announced that the amount of available jobs in the United States declined in November after it rose to the highest level in two years in the month previous, a sign that the recovery in America's job market may be slower and longer than expected. The number of available jobs in the United States declined by 80 thousand in November, to a total of 3.25 million, a 2.4% decline as compared to October's 3.3 million. The stream of economic publications will continue throughout the week, and will include retail sales data, the consumer price index and the industrial production index, the manufacturer price index, trade balance etc.