09.06.2014 - Japan's GDP grew more than expected
Major U.S. stock indexes finished the last trading session of the week at new historical highs. The reason for optimism has become positive data on the labor market. Thus, the unemployment rate remained at 6.3%, which is 0.1% better than expected, and the number of new jobs in non-farm payrolls increased by 217 thousand in May against the forecast of 214 thousand. Today we expect the low activity of traders due to the lack of important macro. We maintain a long-term negative outlook and expect the correction of indexes.
European stock markets closed the trading session with growth amid good news on the U.S. labor market. In addition, Germany's trade balance rose to 17.7 billion, against the forecast of 15.1, and industrial production in the country increased in April by 0.2%. Today, we should pay attention to the data on the investor confidence index in the euro area (8:30 GMT). The market reacted positively to the easing of monetary policy in the euro area and may continue to grow in the medium term. Today, German and French markets are closed.
Markets in the Asia-Pacific region are growing on the background of data on the growth of China's trade surplus, which increased to 35.9 billion in May, compared with 18.5 billion in April. In addition, statistics on the Japanese economy also cheered investors. Thus, Japan's GDP in Q1 2014 increased by 1.6%, against the forecast of 1.4%, while consumer confidence index rose to 39.3 in May. Australian markets are closed today due to the holiday. We maintain a long-term negative outlook for the Australian and Chinese stock markets, but expect growth of stock indexes in Japan in the medium term.