06.03.2015 - Data on the US labor market may increase volatility
Major US stock indexes rose slightly yesterday. Positive for the market was news on the start of a program of quantitative easing in the Eurozone on March 9. The number of initial claims for unemployment benefits in the US rose to 320 thousand, against an expected decline to 293 thousand. The volume of factory orders in the US in January fell by 0.2%, against an expected increase of 0.2%. Today, in the focus will be statistics on the number of new jobs in the US and unemployment (13:30 GMT). Improvement of the situation on the labor market makes closer the time of the Fed raising interest rates, which was negatively displayed on the stock markets. We expect growth on the US stock markets in the medium term.
European stocks showed a moderate increase because of the statement of the ECB chairman, Mario Draghi regarding the launch of the quantitative easing program on Monday. Statement of the Bank of England did not affect the course of trading. Investors were restrained by the expectations of today's publication of data on GDP growth, which was 0.3%, which coincided with forecasts of analysts. Industrial production in Germany also grew by 0.6%, which meets the expectations of experts. The central event of the day will be the publication of data on the labor market in the US (13:30 GMT). We maintain a positive medium-term outlook for markets in the region due to the injection of liquidity by the ECB and the national banks of the euro area.
Markets in the Asia-Pacific region showed mixed trends. The Japanese market showed an increase in the weakening of the yen, as well as positive associated with the launch of quantitative easing in the Eurozone. Chinese indexes were around opening levels, due to the uncertainty about the future prospects of growth. The Australian market fell under the pressure of lower prices for iron ore, which fell below $ 60 per ton. On Monday will be published important statistics on GDP growth and the balance of payments in Japan. We maintain a positive medium-term outlook for the markets of the region.