· Banks will be closed in observance of Whit Monday
· Stocks rose on Monday after U.S. Treasury Secretary Steven Mnuchin declared the U.S.-China trade war “on hold” following their agreement to suspend the tariff threats that roiled global markets this year.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS advanced 0.45 percent, led by strong gains in greater China. Hong Kong's Hang Seng .HSI was up 1.3 percent, Taiwanese shares .TWII 1.3 percent.
· Japan’s Nikkei share average rose on Monday as the dollars’ rise against the yen supported some exporters after news of easing U.S.-China trade tensions, but weakness in financial stocks kept wider gains limited.
The Nikkei ended 0.3 percent higher at 23,002.37, after the dollar rose 0.5 percent to 111.245 yen, hitting a fresh four-month high in Asian trade.
· China stocks extended gains to end higher on Monday, as trade tensions eased after U.S. Treasury Secretary Steven Mnuchin said their trade war with China was put “on hold”.
The blue-chip CSI300 index ended up 0.5 percent at 3,921.24 points, while the Shanghai Composite Index closed 0.6 percent higher at 3,213.84 points.
· This week, the biggest event on the economic calendar is the release of the minutes on Wednesday from the May FOMC meeting. To end the week, Durable Goods Orders are due out on Friday. Risk trends and any surprise headlines out of Washington will be on the market’s mind.
The S&P 500 hasn’t been provided the same tailwind other global markets have, namely the DAX and FTSE, via sharply depreciating currencies. The move thus far off the most recent test of the 2016 trend-line and 200-day has been relatively tame by comparison to its European counterparts. Last week, we saw some digestion of the thrust the week before, suggesting we may see another push higher soon. A decline back below the trend-line off the highs with momentum will be reason for caution.
Referenece: Reuters,CNBC,DailyFx
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