The Robot Forex team would like to take this opportunity to extend our heartfelt condolences to the people of Japan who have lost loved-ones in today's horrific earthquake and subsequent tsunami. Markets reacted negatively in response to the widespread destruction caused to farmland and industrial areas in the world's 3rd largest economy. According to widespread reports, the nuclear power plant in the city of Fukushima has radiation levels that have reached 1000x their normal levels. The number of disaster victims have quickly soared to nearly 1,000 and the final numbers are expected to be beyond that.
Investors began to purchase the Japanese Yen, thereby pushing up the value of the currency. Simultaneously, the US dollar fell in value. Also, despite continued unrest in Libya and reports of heated protests in eastern Saudi Arabia, a barrel of oil decreased to nearly $100. This is because that while a real oil supply disruption exists in Libya, the destruction by the earthquake Japan has caused sort of an equalizing effect in the form of a small demand disruption. The Robot Forex team was surprised to see that the major US stock indices were able to make modest gains at the close of today's trading session. For those with higher risk trading strategies, the Japanese Yen might be worth investing in.