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Global markets boost continues

Global markets boost continues

World markets continued to boost on Thursday. It was caused by good economic data from the United States. Initial Claims and Q3 Non-Farm Payrolls proved to be better than the tentative forecasts.

S&P 500 and DJI hit new historical highs once again. The trading volume on US exchanges fell to 6 billion stocks, 18% below the 5-day average. Obviously, investors are not that active as they expect the official data release on the US labor market today at 13-30 CET. In our opinion, the outlook is positive. Note that the Fed Chair Janet Yellen is expected to give her speech today at 15-15 СЕТ. It may affect the exchange rates. The US dollar index went on rising yesterday. We consider that basically it was boosted by the ECB President Mario Draghi’s speech and the subsequent euro depreciation. He mentioned the possibility of the increase in money printed to 3 trillion euro, if this amount is needed to strengthen the EU economy. Let us remind you that the ECB meeting took place on Thursday. The rate was remained unchanged at 0.05%.

Mario Draghi’s speech pushed European markets. Stoxx Europe 600 updated the 5-week high. Investors deem that part of the additional liquidity from the euro issuing may also influence the stock market. Extra good news from Europe was the Markit’s Retail Sales. Good indicator performance of German foreign trade in September has been released this morning, and also relatively poor data on industrial output in Germany. This may help European stock markets and euro to rise slightly. There is no especially significant statistics released for today in the EU.

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