Concerns have been raised about the global economy after the series of data that have been released showing lowered prices in shares. The UK construction figures are low than the original forecasts and the latest US Private job numbers have join the stream of negative data that has been released that have unsettled investors.
Oil shares have declined after early highs after the higher than expected increase in US crude stocks. Metal prices have suffered in China manufacturing and commodity organisations were amongst those hardest hit.
The Wall Street results show that the Dow Jones Industrial Average is down 0.6% and Brent crude is down 0.49% at $44.75 a barrel.
ECB have stated that they will permanently stop producing the €500 banknote around 2018 and seek to exclude it from the Europa Series. €100 and €200 banknotes will be introduced at the same time existing notes will still remain legal tender and retain their value.
The picture of the US economic figures do not mean that figures cannot raise in June, market analyst, Joshua Mahoney has stated that the abundance of data in the US market actual makes it a difficult trading market to navigate. Stating that mixed data points actually predicted more positive outcomes.
The positive release of composite readings for PMI helped create an encouraging future for US businesses with signs of improving factory orders and trade balances. This however, has been changed by poor ADP non-farm payroll numbers. US crude stocks actually rose more than predicted last week, according to the figures from the EIA, a hopeful update for the future of stocks.
The Eurogroup will be holing a meeting to discuss the macroeconomic adjustment programme for Greece and the discussion will cover a range of topics such as policy reforms and Greece’s public debt. Eurozone minister (EWG), Euro Working Group will be discussing matters more on Wednesday.