U.S. stock indexes continued to decline due to the negative data on the labor market, where the number of initial unemployment claims rose to 317 thousand, against the forecast of 306 thousand, while retail sales increased by 0.3% in May against 0.5% in April. Business inventories of companies also rose by 0.6% against the expected 0.4%. Today traders will monitor the data on consumer confidence in June (13:55 GMT) and the situation in Iraq. We anticipate a further decline of U.S. stock markets in the medium term.
European stock indexes hardly changed on the negative macro statistics from the United States. At the same time, industrial production in the euro area in April rose by 0.8%, against a fall of 0.4% in March. The dynamics of today's trading will depend on the trade balance and employment in the euro area, as well as the index of leading economic indicators in the UK (09:00 GMT). Growth on European stock markets in the near future is unlikely, and we are waiting further decline on the stock markets in the medium term.
On the markets of the Asia-Pacific region is a positive mood despite the negative start of trading. The Bank of Japan's monetary policy has not changed, and industrial production in the country declined by 2.8% in April, which is 0.3% worse than the forecast. At the same time, industrial production in China increased by 8.8%, against the forecast of 8.7%. The Australian stock market is under the pressure of low iron ore prices, which reached $ 92 per ton. The Japanese market may continue to grow on a background of the devaluation of the yen, but the Chinese and Australian will probably decline in the medium term.