United States ISM New York index fell from previous 62 to 54.6 in January

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USD/JPY returns to 120.40, risk aversion picks up

The Japanese currency is benefiting from the pick up in risk aversion, now dragging USD/JPY back to session lows around 120.40....
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Oil price decline hurts stocks; BP reports worst annual loss in 20 years

Oil fell around 4 percent today weighed by rising glut concerns as well as weak global economic outlook. Oil received a further blow as hopes for a deal between OPEC and Russia on output cuts dimmed. Weak economic data from China, Europe and the United States together with U.S. forecast for mild weather re-established that oil demand will likely stay low for some more time to come.
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