Yesterday, trading on major stock exchanges of the world was not made in connection with the Christmas holidays. According to the results of the last pre-holiday session on Friday, the stock indices showed a decrease in the single dynamics and closed in red. The Dow Jones declined by 0.11% (24754.06), S&P 500 fell by 0.05% (2683.34), the Nasdaq lost 0.08% (6959.96). European markets also went down in a single dynamics and closed in negative territory. The German DAX fell 0.28 %(13072.79), British FTSE 100 slipped 0.15% (7592.66).
Today it is expected a few publications of the macroeconomic data and the speeches of the monetary authorities that could affect investors' decisions during the trading sessions.
- At 02:30 MSK the Index of household expenditure Japan
- At 02:30 MSK the ratio of the number of vacancies and applicants in Japan
- At 02:30 MSK the Basic index of consumer prices Tokyo
- At 02:50 MSK the meeting minutes monetary policy of Japan
- At 07:00 MSK the President of the Bank of Japan Haruhiko Kuroda speaks
- At 17:00 MSK Composite home price index S&P/CS Composite-20 US
- At 18:00 MSK the Index of consumer confidence USA
Today stock exchanges of the Europe, Hong Kong, South Korea and Brazil are still closed due to the celebration of Catholic Christmas. The main news are coming from the Asian markets and the United States.
On Tuesday morning, Governor of Bank of Japan Haruhiko Kuroda said it is important to ensure that economic growth does not lead to excessive risk in the financial markets, and the emergence of bubbles. He said: "At the current stage of economic recovery there is no sign of excessively bullish expectations in asset markets and behavior of financial institutions. But all the financial events deserve attention". Kuroda also said that the Bank of Japan will maintain its "powerful" monetary support for the economy, as inflation remains distant from its two percent target.
On the background of upbeat macroeconomic data from Japan, the US dollar stabilized at the opening of trading after the holiday on Tuesday. The volume is not large, as most market participants have already closed their annual reports.
Last week the U.S. Congress approved global changes to the tax code, which is expected to give at least a short-term lift to the already solid economic growth. Also, action was taken on funding the Federal government until January 19, which prevents it from closing.
The European currency is remaining under pressure after last week Catalan separatists won regional elections, deepening a political crisis of Spain in the confrontation with Prime Minister Mariano Rajoy and leaders of the European Union, which supported him.
Due to the closure of the world's stock exchanges oil futures are not traded. Today, trades resumes, the fundamental reaction of rates will be for the quotation currency, the American dollar, and the night it is expected the publication of inventories report.