Also this week the index of the Asian markets – MSCI Asia Pacific – marked an increase of around 1,3% and recorded a p/e of 14,8. In the early afternoon in Tokyo, the index is almost at a standstill - +0,1% - but the underlying tone remains positive. Consumer prices in February, in the Tokyo area, decreased (seasonally adjusted data) by 0,4% on January, and by 0,9% on February 2012. The persistence of deflation confirms the new expansionary monetary policy that the Government and central banks are adopting, and the markets are pinning a lot of hope on these heterodox monetary weapons. Yesterday's US data also contributes to the positive tone, confirming improvements in the labor market, with a clear drop in the weekly data on new unemployment benefits.
The euro moved slightly, to 1,308, while oil dropped below 92 (WTI) and 111,4 (Brent). Gold, which in recent days had tried to return to 1600, was driven back to 1578 dollars/ounce.
