07.04.2016 - Markets are waiting for the previous ECB meeting minutes
American stocks rose yesterday against the backdrop of increasing the value of shares in the energy and healthcare sectors. It should be noted that support for the market was the increase in oil prices against the background of a decline in US stocks by 4.9 million barrels against an expected growth of 3.1 million barrels. At the same time, the publication of the previous Fed meeting minutes has led to increased confidence in saving of the US monetary policy settings unchanged after the Fed's meeting on April 26-27. Today, the dynamics of trading will continue to be affected by the price of oil and the speech of the Fed chief Janet Yellen (21:30 GMT). We expect a correction on the markets of the country in the near future.
Major European stock markets today are consolidated around the previous closing levels in anticipation of the publication of the previous meeting of the ECB reports (11:30 GMT), at which it was decided to lower the interest rates on deposits to -0.40%, for loans to 0.00% and increase the monthly volume of asset purchases in the euro area by 20 billion to 80 billion euros. Minutes of the meeting may lead to increased volatility on the market. Tomorrow we should pay attention to the statistics on the German trade balance and industry in the UK. The current decline in the region's markets may continue in the near future, but our medium-term outlook remains optimistic.
Markets in the Asia-Pacific region today, are moving in different directions. Support for them has been the growth on the US markets, as well as the increase in price of oil, which supported the shares of energy companies. Strengthening of the yen continued to put pressure on shares of Japanese companies focused on foreign markets. In Australia, shares of gold mining companies, utilities and energy companies were among the leaders of growth. Tomorrow we should pay attention to the data on balance of payments and the consumer confidence index in Japan. The fall in the region's markets may continue in the near future, but we expect growth in the medium term.