Draghi’s comments boosted stock indexes to record growth

Yesterday we could see rapid growth on world markets after the meeting of European Central Bank, Bank of England and speech of Mr. Draghi. Increase in main world stock indexes had more emotional character rather than fundamental. In general, the head of European Central Bank once again calmed investors with verbal interventions and no any steps were undertaken. Mr. Draghi once again confirmed preservation of stimulating policy of European Central Bank, and let know that interest rates are going to be kept on a low levels during a long time. In comparison, more or less head of European Central Bank gives us the same comments and information, which we consequently hear from Mr. Bernanke.

Despite the fact that trading session in the USA has been closed, the leading stock exchanges finished the trading session on Thursday in the positive territory. The index of the London stock exchange FTSE 100 grew by 2,9%, the index of the Parisian stock exchange CAC 40 added 3,08%, the index of the Frankfurt stock exchange DAX rose by 2,11%.

As to the currency market, then we could see steep falls in many currencies in relation to American dollar. EUR/USD from the level of 1.3008 dropped down to a minimum on 1.2882, today morning - pair is traded on a level of 1.2897. 

Great British Pound was the first one to start correction in relation to dollar, having vigorously reacted to hints of Bank of England. The monetary policy, as expected, remained the same, however Mark Carney didn't want to waste time and already made changes in tactics of communication with the market. If earlier the accompanying statement in case of an invariable course wasn't published, now decisions and actions of the bank will be more transparent. Within comments it was noted that despite positive signs of economic recovery, in comparison to historical measures – it still remains to be weak. This means that most probable level of an interest rate will not be defined by the current signals. These words right away sent pair GBP /USD down: from level of opening at 1,5277 to a minimum of 1,5054, having finished the trading session only 15 points higher. This morning pound continues to bargain next to the level of 1.5000.

Today investors are going to wait for an unemployment figures from the United States, which will have an influence on the markets and will help to decide on further direction of the markets.

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