Oil prices climbed to nearly $ 100 per barrel as Iran again threatened to block shipments of crude oil from the Persian Gulf. The threat followed a decision of the European Union to stop (embargo) of crude oil imports from Iran.

Previously, the EU has given preliminary approval to impose a ban on imports of Iranian crude oil. The move aims to cut Tehran's main source of income as well as pressure Iran to stop its nuclear program.

However, considering the economic crisis that was sweeping Europe since two years ago, Europe agreed to postpone the full implementation of Iran's oil embargo until July 1.

In trading GBP / JPY Asian session today (12-01) Japanese Yen monitored fell against Sterling and in the range of 117.71. Pressure on Yen against Sterling pair was observed decreased with the indication that showed decreased Japan's economic performance.

Ministry of Finance reported that the current account in November 2011 showed a drop in surplus. In the current account surplus valued at approximately 0:48 trillion yen, while in October 2011 reached a surplus of 0.52 trillion Yen.

China's inflation decrease slightly in December. This gives room for this country to re-stimulate their economy that began to slow.

This affected food prices increased sharply, where political conditions make prices become sensitive.
Reporting from the Associated Press, Thursday (01/12/2012), overall, consumer prices increase 4.1 percent, but recorded down 4.2 percent from the previous month. But still above the government's target of four percent for this year.

While the inflation of food prices increase to 9.1 percent from the previous year of 8.8 percent. Inflation rate that could clear the way for Beijing to lower interest rates or take other steps to stimulate economic growth tends to slow down. But China's leaders feel surges of food costs become barrier.

Stock markets in the United States set records for 5 months at the close of trading yesterday. The Dow Jones and S & P 500 closed strengthened each 69.78 points or 11.38 and 0.56 points, or 0.89 percent.

The same thing happens on the NASDAQ index that rise 25.94 points, or 0.97 percent to 2702.50.

"Investors are still focused on European conditions, but their attention is not as big in November 2011," said Head of NYSE floor operations for Meridian Equity Partners in New York, told Reuters on Wednesday, January 11, 2012.

On Monday the euro exchange rate against the U.S. dollar reached disappear into the lowest position since September of 2010 (01/09). The euro bounced against the dollar and the yen weakened after stock markets in Asia have been hit slowly due to weakening of the opening of Wall Street at the end of trading last week. Fears of a worsening crisis in Europe again controlled the market sentiment.

Concerns about the condition of Europe higher after Hungary's credit rating downgraded to junk level. Although not a member of the euro area, this decrease is still an impact on the performance of the currency.