American stock indexes showed a positive trend against the background of growth of quotations of oil and expectations of a strong labor market report in the country, which will be published tomorrow. It is worth noting that the weak data on non-manufacturing PMI in the US, which strongly fell to 53.5 in January from 55.3, could not change the positive sentiment on the market. Today, the price dynamics may affect the volume of news on factory orders in the US (15:00 GMT). We expect increased volatility tomorrow and our outlook remains negative in the coming months.
European stocks today show modest growth after yesterday's decline. It is worth noting the European Commission's publication of the forecast for GDP growth in 2016, which was reduced by 0.1% to 1.7%. Today, the dynamics of trading will affect the rhetoric of the head of the Bank of England after the publication of interest rate decision (12:00 GMT). The statement of the ECB Mario Draghi's readiness to use incentives, despite the adverse effects enhances the bull position in the market. Tomorrow we should pay attention to statistics on the volume of industrial production in Germany in December. Our medium-term outlook remains positive, despite pressure from fears about growth in Asia and the US.
Markets in the Asia-Pacific region today showed a positive trend with the exception of the Japanese indexes, which are under the pressure from the strengthening of the Japanese yen. It is worth noting that support has become the positive data on the service PMI in China by Caixin, which rose to 52.4 in January from 50.2 in December. Tomorrow investors in China will fix positions before week vacation, which is associated with the celebration of the New Year in China. We expect continued instability on the markets of the region in the near future.