The euro slid to an almost a nine-year low against the dollar amid speculation European policy makers will undertake a concerted program of government-bond purchases to stoke growth. Japanese and U.S. index futures fell with Tokyo trade resuming after holidays, while oil and gold declined.
The 18-nation currency sank 0.5 percent to $1.1948 by 8:51 a.m. in Tokyo, touching 1.1864, its weakest level since March 2006. The pound and Swiss franc slipped with the Australian and New Zealand currencies. Nikkei 225 Stock Average futures were bid down 0.5 percent in the Osaka pre-market as contracts on the Standard & Poor™s 500 Index fell 0.2 percent. Oil declined for a third straight day as gold and copper futures retreated.
European Central Bank President Mario Draghi said in an interview published Jan. 2 that he couldn™t exclude the risk of deflation in the euro-area, igniting a selloff in the euro amid prospects he™ll embark on large-scale quantitative easing. Germany is projected to report slowing inflation today. Markets from China to Thailand start trading for the new year, with gauges of manufacturing in Japan, Taiwan and Vietnam due. U.S. crude slid 46 percent in 2014, its worst year since 2008.
Source : Bloomberg