07.03.2016 - Markets await the ECB decision
US stock indexes on Friday showed moderate growth despite the publication of positive statistics on the number of non-farm payrolls, which increased by 242 thousand, against the forecast of 195 thousand. The unemployment rate was 4.9% and the average hourly wage fell by 0.1% against the forecast of growth by 0.2%. Today, the dynamics of trading will affect the speech of the deputy head of the Fed Stanley Fischer, who can assess the recent statistics published in the United States. According to our estimates, after strong growth is probable the correction on the markets of the country. We expect the resumption of the negative dynamics in the near future.
Major stock indexes in Europe show a decline now against a background of correction in oil prices, as well as the contradictory statistics on the US labor market, which was published on Friday. Today, will be released the data on the volume of industrial orders in Germany, which fell by 0.1% in January against the forecast of decline by 0.4%. In addition, was published the data on the index of investor’s confidence from Sentix in Eurozone, which fell to 5.5 in March against the forecasted growth of up to 8.8. Tomorrow will be published data on GDP growth in the Eurozone, but the main event of this week will be the decision of the ECB statement of monetary policy, which will be published on Thursday. In case of expanding stimulus measures in the euro area, we will see growth in the region's markets.
Stock indexes of the Asia-Pacific region showed positive dynamics today. Japanese investors fixed positions ahead of tomorrow's publication of the statistics for GDP growth in Japan, which may disappoint investors. It should be noted that the Prime Minister of China Li Keqiang on Saturday announced an economic plan for 5 years according to which the average economic growth in this period will be 6.5-7.0% and an increase in the budget deficit to 3% of GDP this year. We maintain our positive view on the markets in the region due to lower fears of investors about the situation in China.