04.03.2016 - Traders attention is focused on the release of the employment report
American stocks yesterday continued moderate growth, despite the weak statistics for the service PMI in the United States, which totaled 49.7 in February against the forecast of 49.8. The volume of factory orders rose by 1.6% in January, which is 0.5% less than the forecast. Today will be published very important statistics on the labor market in the US (13:30 GMT). Strong indicators increase the likelihood of the Fed raising interest rates this year. We expect a strong price movement in the near future. Our forecast for the coming months remains negative.
European stocks today show a positive trend before the publication of the US labor market report. The optimism of investors is enhanced by the publication of statistics on retail PMI, which rose in February to 50.1 that is 1.2 better than expected. Markets in the region are waiting for news on US employment. On Monday will be published data on the volume of industrial orders in Germany and the index of investor confidence in the Eurozone. In the near future optimism will be supported by the expectation of the ECB meeting on March 10 where may expand incentives. Our medium-term outlook for the region's markets remains positive.
Markets in the Asia-Pacific region showed a positive dynamics following the US markets. Investors are watching the situation in China, where are waiting to hear about additional measures to stimulate the local economy. Support for the Japanese market was the information about the growth of the average wage in the country by 0.4% in January compared to the same period of the last year. On Monday, the focus will be on the speech of the Bank of Japan chairman Haruhiko Kuroda, and the reaction of investors to the statistics on unemployment in the US, which will be published today. Our medium-term outlook for the region's markets remains positive.