US stock indexes showed a decline on a background of falling prices for oil due to the expected lack of impact of the negotiations between representatives of a number of major oil producers in Qatar on 17 April. This fact was able to neutralize the increase in the health sector shares. In addition, the volume of factory orders fell by 1.7% in February, after rising 1.2% in January. Today, the course of trading will affect data on the US trade balance (12:30 GMT) and non-manufacturing PMI in the country (14:00 GMT). The probability of continued negative trends in the near future has increased significantly.
European stocks are down today following the American and Asian markets. It is worth noting a negative impact of oil decline and weak statistics on the volume of industrial orders in Germany, which fell by 1.2% in February. In addition, the service PMI in the euro zone fell by 0.9 to 53.1 in March, while retail sales increased by only 0.2% in February, which is two times less than the growth in January. Tomorrow we should pay attention to the statistics on industrial production in Germany. Our medium-term outlook for European indexes is positive, but in the near future is likely to continue the negative dynamics of the European markets.
Markets in the Asia-Pacific region fell except for the mainland market in China, which is supported by stimulus measures by the government. It should be noted that not long ago there were news about the increase in the number of problem loans in China by 35% for the year to more than 2 trillion yuan. The Japanese market is under strong pressure from rising yen against the US dollar and falling oil prices. Reserve Bank of Australia left interest rates at 2.00%, but the trade deficit in the country totaled 3.41 billion in February, against 2.94 billion in January. We expect growth on the markets of the region in the medium term, but the current negative trend may continue in the near future.