MILANO – Asian stock exchanges traded positively and futures on Europe and the United States are on the upside pending American data on the job market. Yesterday’s appetizer, with the fall beyond expectations of requests for unemployment benefits, gave a good mood to the session on Wall Street, which last night ended with the Dow Jones (+ 0.92%) at new records .
Tokyo it is up by 0.13%, Hong Kong by 0.52%, Shanghai by 0.2% and Seoul by 0.75%. Investors are encouraged by the low interest rates and the stimulus governments are putting into the economy. The stimuli of the advanced countries and their restart are at the basis of the boom in exports that occurred in April in China. The comparison on April 2020, when however some restrictions were still in force, is a jump of 32% for exports, above analysts’ expectations for + 24%. Imports, which in the same month increased by more than 43%: in this case it is a figure slightly below forecasts but still at the highest levels of the decade. This value has an impact on the increase in the price of raw materials (iron and copper are at record levels) which “will trigger higher inflation and depress domestic demand”. The recovery in global demand has therefore allowed Beijing to record a trade surplus of 42.85 billion dollars in April, slightly down on the 45 billion in the same month of 2020, but more than the 28.1 billion expected by analysts. To worry remains theIndia which records a new record of daily coronavirus infections: 414,188 cases have been registered in the last 24 hours. There are 3,915 deaths related to the disease.
Important numbers were also expected in Europe to test the strength of the recovery. There industrial production in Germany in March it grew by 2.5% monthly, a result above estimates (+ 1.8%) on an annual basis, the growth was 5.1%. For Italy, in the evening it is possible to review the rating by Moody’s. Data on retail sales are also expected during the morning, while a speech by Christine Lagarde is scheduled for the ECB.
Among these important indications, theeuro opens higher above 1.20 dollars: the European currency changes hands at 1.2064 dollars and 131.57 yen. Dollar / yen down to 109.06. Sterling above $ 1.39, after the Boe did not touch its accommodative policy. Inflation fears, which had caused the greenback to rally in recent days, have lost momentum.
Finally, among the prime matries, the prices of Petroleum they open higher. Markets are looking to recovery, especially in the US and China. They encourage reopening in Europe, while the increase in infections in India is worrying. On the Asian markets, futures on Light crude Wti advanced by 0.59% to 65.09 dollars and those on Brent by 0.59% to 68.49 dollars.
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