06.10.2014 - Reduction of unemployment in the United States has improved investor sentiment

American stock indexes showed strong growth on Friday on the background of positive statistics on the labor market of the country, where unemployment fell in September by 0.2% to 5.9% (the lowest level since 2008), and the number of workplaces has grown to 248 thousand against the expected growth of 216 thousand. Despite this potential for further growth is limited due to the completion of the program of quantitative easing. Today it is not expected to be published important macro and the main event of the week will be the publication of the Protocols of the previous meeting of the Federal Open Market Committee of the Fed on Wednesday. We maintain a medium-term negative outlook on the American market.

European markets on Friday showed strong growth against the background of positive statistics on the labor market in the United States. In addition, traders were pleased by data on retail sales in the euro area, which increased by 1.2%, compared with an expected increase of only 0.1%. Today, the markets were disappointed by the data on industrial orders in Germany, which fell in August by 5.7%, compared with an expected decline of 2.4%. We should also pay attention to data on retail PMI in Eurozone (8:10 GMT) and the index of investor confidence (08:30 GMT). Economic indicators in the region remain weak, and the actions of the ECB to stimulate the economy does not produce the expected results. We maintain a medium-term negative outlook for European markets.

On the markets of the Asia-Pacific region is a positive trend. The Japanese market is growing due to the fall of the national currency. Tomorrow trading dynamics will depend on the statements of the Bank of Japan on monetary policy. Let us recall that an increase in the sales tax has led to more negative outcomes than previously expected. In China are continuing the holidays, but investors are still worried about the protests in Hong Kong. The Australian market despite the improvement in investor sentiment remained under pressure of low commodity prices. We maintain a medium-term negative outlook on the stock indexes in the region.

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