Markets fall on the roof

Financial Analyst FxPro Alexander Kuptsikevich: On Thursday the stock fell the most ground since April. Investors are worried that the interconnected EU countries may experience the domino effect, similar to that observed in 2008 with the collapse of Lehman. The U.S. Dow Jones lost 2.6%, Britain's FTSE - 2,2%, the pan-European FTSEurofirst 300 dropped to 2,8%.

The reasons are rooted in such a sad course of events in Pumping fears for the debts of the European states. Only now fears went further fears for Greece, and in the center of the storm - Spain. It is much bigger and the problems it faced, new to her. Greece piling up debt, with the budget deficit for many years.

News from the other side of the Atlantic, too, were not encouraging. Company shall refrain from recruiting staff, as is evident from the statistics for the primary treatment for unemployment benefits. Instead of reducing their number grew last week, and the average value for January was higher than the February figures. This reinforces fears that the American economy could not yet enter the phase of net job growth, as economists predicted a week ago in the area of 10-15 thousand.

Probably, the banking sector of the market also affects the intention of Obama's heavily regulated banking industry. Last week he made similar suggestions. Representatives of the Governments of the largest countries expressed agreement in principle with his ideas. From Friday to the general meeting in Canada, finance ministers and heads of central banks G7 will discuss how "to build a recovery" after the Great recession. Promised also affect currency fluctuations.

Technically, the American share platforms can continue to decline, the development of correction lost another 5%. Currency markets may continue to be dominated by fears over state debt, causing the demand for currency-haven dollar and yen. Commerzbank predicts the fall of the euro to 1.34 against the dollar, Morgan Stanley went a step further, promising to 1.24 dollar per euro at 1.5130 against the peak in December and 1.37 today. In this case, the ruble is waiting for a long decline, but a test for next week could be an important technical levels 30,60-30,80 per dollar.