The US stock market showed growth after a long weekend. The reason for optimism became weak data on the US labor market, which increased the likelihood of rising interest rates of the Fed not in June but in September. Non-manufacturing PMI in March was 56.5, which is 0.1 worse than analysts' expectations. Today, the course of trading will be affected by the news on open vacancies in the labor market (14:00 GMT). Investors will not rush to build up positions ahead of tomorrow's publication of the minutes of meetings of the US Federal Reserve and speeches of New York Fed chairman, William Dudley. We maintain a positive medium-term outlook for the US market, but for renewing the highs are required new drivers.
European stocks show strong growth after a long weekend. Analysts are positive about the possibility of a later raising of interest rates of the Fed. Service PMI in the Eurozone in March fell by 0.1 to 54.2. Today is also worth paying attention to the statistics on the index of investor confidence in the euro area (8:30 GMT), as well as minutes of meetings of the Bank of England (08:30 GMT). The growth of the markets are still supported by the program of quantitative easing in the Eurozone. In the focus remains the negotiation process between Greece and its creditors. We maintain our positive medium-term outlook for markets in the region.
Markets in the Asia-Pacific region showed an increase with the improvement in investor sentiment in the United States. The weakening of the yen has been positive for the Japanese market. Investors expect the country's future statements of the Bank of Japan on monetary policy, as well as the release of data on the balance of payments. Retail sales in Australia in February increased by 0.7%, compared with an expected increase of 0.4%, while at the same time, the Reserve Bank of Australia has not lowered interest rates, but the probability of its decline in the near future remains high. We maintain a positive medium-term outlook for the markets of the region.