US equity futures did not change much after the Monday holiday. Despite the fact that the inflation data in the United States exceeded last week’s forecast, analysts are expecting further growth in stock indexes. ADP’s non-farm payroll statistics could have a big influence on the weekend. Negative data can lead to a revision of monetary policy by the Federal Reserve.
European stock indices fell slightly at the close of Monday’s trading day. This drop can be explained by the strengthening of inflation in Germany. However, May closed on a positive note, and this is the 4th month in a row more. Such a dynamic can be explained by the growing expectations of an economic recovery in the euro zone after the pandemic. Today there will be a lot of macroeconomic statistics from the main European countries.
Today there will be an OPEC + meeting. Experts predict that OPEC + will not yet adjust its plans to gradually increase production, which works in favor of further growth in oil prices. However, the prospect of Iranian oil entering the market is slowing down the market’s rise slightly. Although many analysts are confident this will not significantly affect demand dynamics.
Gold has jumped to five-month highs. As long as the Federal Reserve maintains its current monetary policy and bond yields remain unchanged, precious metals will continue to advance.
Asian stock indices showed mixed momentum on Monday. Taiwan and South Korea’s stock indexes edged up, while Japan, Australia and Hong Kong’s indexes declined. Chinese manufacturing capacity again increased rapidly. China is very likely to be the first country to emerge from the COVID-19 crisis into a new round of economic growth.
Main market quotes:
- S&P 500 (F) 4,204.11 +3.23 (+ 0.08%)
- Dow Jones 34,529.45 +64.81 (+ 0.19%)
- DAX 15,421.13 -98.85 (-0.64%)
- FTSE 100 7,022.61 + 2.94 (+ 0.04%)
- Index USD 89.85 -0.18 (-0.20%)
- Australian RBA rate decision (m / m) at 07:30 (GMT + 3);
- Germany Manufacturing PMI (m / m) at 10:55 am (GMT + 3);
- Germany Unemployment rate (m / m) at 10:55 am (GMT + 3);
- EU manufacturing PMI (m / m) at 11:00 a.m. (GMT + 3);
- EU consumer price index (m / m) at 12:00 (GMT + 3);
- US ISM Manufacturing PMI (m / m) at 5:00 p.m. (GMT + 3);
- UK BOE Governor Andrew Bailey speaks at 6:00 p.m. (GMT + 3);
- China manufacturing PMI (m / m) at 04:00 (GMT + 3);
- OPEC + meetings, all day (GMT + 3).