American market yesterday showed growth amid expectations of a later Fed raising interest rates due to the weak statistics on the US labor market. Statistics on non-productive PMI, which fell to 56.9 that is 2.1 worse than the previous indicator increased the likelihood of this scenario. Today traders will reduce activity due to the expectation of the publication of minutes of the previous meeting of the Federal Reserve on Thursday. The growth potential on the markets declined, but we at the same time expect a continuation of the consolidation of the indexes around the current levels. The medium-term view remains negative.
European stock markets showed growth against the background of the general growth of optimism on world stock markets. Today was published statistics according to which industrial orders in Germany fell by 1.8% in August against the expected increase of 0.5%. Negative for the UK market was the news on reduction of the house price index by 0.9% in September, against growth of 2.7% in the previous month. Today, investor sentiment may be affected by the ECB President Mario Draghi (17:00 GMT). Our medium-term outlook remains positive thanks to the support of buyers from the program of quantitative easing in the Eurozone.
Markets in the Asia-Pacific region showed growth. The Japanese market is supported by the weakening of the yen, which is favorable for the stocks of export companies. In China, continues the weekend. It is worth paying attention to the keeping of the parameters of monetary policy in Australia unchanged. Interest rates remained at 2.0%. At the same time the trade deficit in Australia rose to 3.10 billion against 2.48 billion forecasted. Tomorrow the Japanese market dynamics will depend on the statements of the Bank of Japan and the index of leading economic indicators. Our medium-term outlook for the stock indexes in the region remains positive.