European stocks were little changed on Monday amid sluggish trade due to the lack of American and British investors. In the UK there was a day Bank holidays. The volume of trading on European exchanges amounted to slightly less than one third of the monthly average. In individual countries of the Eurozone went bad statistics. By the end of may, Germany came out of deflation. Note that last week the pan-European Stoxx Europe 600 showed the highest growth since February, as well as the American Nasdaq. Thursday will be the ECB meeting, which could affect the Euro despite the fact that the rate change is not expected.
On Monday, the Nikkei rose for the 5th day in a row. This contributed to a noticeable weakening of the yen. An additional positive was the fact that retail sales in April decreased not as much as expected. The Prime Minister of Japan Shinzo Abe said that raising the sales tax, planned for April 2017, may be delayed. In addition, he did not rule out additional monetary stimulus for the Japanese economy. Investment banks UBS Group and Nomura Holdings raised its recommendation on the shares of Nissan Motor, which caused their growth to 3.8%. This has had a positive impact on quotes and other Japanese car manufacturers.
World oil prices fell slightly before the next OPEC meeting, which will be held on Thursday, 2nd June. The number of working drilling rigs in the US decreased to 319 units, which is more than 5 times less than the maximum Oct 2014, 1609. Because of this reduced the proportion of American oil on the world market, which decided to occupy other countries. In particular, Iraq announced plans to increase production in June by 5 million barrels. Now he produces about 3.47 million barrels per day. To increase production of oil as well going Saudi Arabia, Canada, Libya and Nigeria. Note that according to JBC Energy Agency global demand in January — April increased by 1.5 million barrels a day. This could support quotes and to form a neutral range of fluctuations of oil.
Gold and other precious metals fell amid strengthening of the American currency. Usually their quotes are oppositely directed. Gold became cheaper for 9 consecutive trading sessions , which is the longest continuous decline since March 2015.