The major American indices finished last week higher, with all of them increasing by more than 1% and approaching their record levels. The Nasdaq finished last week at the value of 5,005, the Dow Jones at 18,024 and the S&P 500 at 2,108. Investors remain anxious about the Nonfarm Payroll data coming out Friday, as it is expected to be higher than the previous month’s result which showed a disappointing figure. Today, with the Japanese and the U.K. markets closed, and the anticipation for the important data release by the end of the week, the trading may be quieter than usual. Members of the FOMC will be giving speeches along the day, and investors will be seeking their statements for any clue about the interest rates.
While the Japanese markets were closed for Greenery Day, the Chinese indices finished the Asian session higher today after they recovered from the release of negative data. The indices started the session with a sharp drop, as the Chinese HSBC Manufacturing PMI was released below expectations and the result was the lowest in a year. Reopening after a three-day weekend, the Shanghai Composite was up by 0.87%, reaching the value of 4,480, while the Hang Send index was slightly changed after dropping only by 0.03%. The Japanese markets will not be opened until Thursday; the volatility on the Japanese currency may thus be lower, as currently the Yen seems to be weakening against the dollar, reaching ¥120.2.
The Manufacturing Purchase Manager Index (PMI) was released today from different countries in Europe, and while the Eurozone and the German PMI’s were higher than expectations, the French PMI dropped unexpectedly. Despite the release, the CAC 40 started the session positively, touching the value of 5,075; the German DAX was supported by the data and rose by more than 1%. With the U.K. markets closed for Early May Bank Holiday, and the elections approaching, the British Pound is trading lower against most currencies. The FTSE 100 finished last week higher by 0.36%, after several of its components were supported by the release of earnings reports.
The major American indices finished last week higher, with all of them increasing by more than 1% and approaching their record levels. The Nasdaq finished last week at the value of 5,005, the Dow Jones at 18,024 and the S&P 500 at 2,108. Investors remain anxious about the Nonfarm Payroll data coming out Friday, as it is expected to be higher than the previous month’s result which showed a disappointing figure. Today, with the Japanese and the U.K. markets closed, and the anticipation for the important data release by the end of the week, the trading may be quieter than usual. Members of the FOMC will be giving speeches along the day, and investors will be seeking their statements for any clue about the interest rates.
While the Japanese markets were closed for Greenery Day, the Chinese indices finished the Asian session higher today after they recovered from the release of negative data. The indices started the session with a sharp drop, as the Chinese HSBC Manufacturing PMI was released below expectations and the result was the lowest in a year. Reopening after a three-day weekend, the Shanghai Composite was up by 0.87%, reaching the value of 4,480, while the Hang Send index was slightly changed after dropping only by 0.03%. The Japanese markets will not be opened until Thursday; the volatility on the Japanese currency may thus be lower, as currently the Yen seems to be weakening against the dollar, reaching ¥120.2.
The Manufacturing Purchase Manager Index (PMI) was released today from different countries in Europe, and while the Eurozone and the German PMI’s were higher than expectations, the French PMI dropped unexpectedly. Despite the release, the CAC 40 started the session positively, touching the value of 5,075; the German DAX was supported by the data and rose by more than 1%. With the U.K. markets closed for Early May Bank Holiday, and the elections approaching, the British Pound is trading lower against most currencies. The FTSE 100 finished last week higher by 0.36%, after several of its components were supported by the release of earnings reports.
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