European stocks have been rising in price since Monday, following the US stock futures. Against the backdrop of cheap energy securities of energy companies Electricite de France ( 5,6%), RWE AG ( 4,3%) and E.ON ( 2,6%) are in demand. Today at 15:45 monthly economic report will be released by the ECB. Tomorrow the release of data on industrial orders in Germany for February is expected, which turn out to be positive.
Оn Monday Nikkei updated the minimum for month and then rose slightly, along with other world stock indices. The yen strengthened against the US dollar despite the rise of the US currency index. Investors believe that a strong yen could have a negative impact on Japanese exporters. Stocks of Toyota Motor and Nissan Motor fell by 2.5%, and Mazda Motor - by 5.6%. On Tuesday morning the data on wages in Japan for February will be released, as well as the PMI index of business activity in the sphere of services and the composite one for March. The forecast is moderately positive.Quotes of copper declined after the world's largest producer - Chilean company Codelco published a review which does not expect an increase in the world demand this year. In addition, the world's largest electricity network company State Grid Corporation of China reported a drop in investments by almost 3% this year up to 439B Yuan. Market participants are afraid of the decline in demand for copper for the production of electrical cables and other power grid equipment. Last year China's energy consumption of copper was estimated at 9.15M tons.
The price of soybeans reached the highest level since last August. The US Department of Agriculture (USDA) published a forecast which indicated that soybean seeds in the US could reach 82.24M Acres during this season. This is less than last year's level of 82.65M Acres and the average evaluation of 83.06M Acres by market participants. Note that wheat seeds may also be less than last year's level, but its price has not increased.
Quotations of the corn have significantly decreased. The USDA believes that its seeds this season will amount to 93,600,000M Acres. This is much more than the last year level of 88M and the forecasts of market participants - 89,970,000M.