American stock market showed a significant decline yesterday after the revaluation of the Fed meeting minutes. Investors accept negatively consequences of strengthening the dollar and slowing growth in China, Europe and Japan. Also yesterday, investors were disappointed by the forecasts for GDP growth in Germany. Data on the reduction of the number and unemployment claims in the United States to 287 thousand, against the expected 291 thousand. Today, the course of trading may be affected by the data on the United States federal budget (18:00 GMT) and the speeches of the Fed presidents of Philadelphia (13:00 GMT) and Dallas (19:30 GMT). We maintain a medium-term negative outlook on the American market.
European indexes yesterday showed a decrease due to lower forecasts for GDP growth in Germany by analytical centers of the country. Thus, it was announced that GDP growth in 2014 will be 1.3%, and in 2015 - 1.2%, compared to the previously expected growth of 1.9% and 2.0%. Mario Draghi pointed to systemic problems in the Eurozone economy and called on the countries to make reforms. The Bank of England yesterday left monetary policy settings unchanged. Today it is worth paying attention to the data on the trade balance of the UK. Industrial production in Italy increased by 0.3%, which is 2 times less than the forecast, while in France the same indicator has not changed. We expect a further decline on European stock markets in the medium term.
Markets in the Asia-Pacific region fell today due to the global negative mood of traders. Investors fear a recession in the Eurozone and a slowdown in China. In addition, it is worth noting the fall of consumer confidence in Japan to 39.9, which is 1.3 worse than the previous figure. The volume of lending on the housing market in Australia showed a decline of 0.9%. In China, investors fear the continuing protests in Hong Kong, where protesters cannot find a compromise with the authorities. On Monday, in Japan is a banking holiday. We maintain a medium-term negative outlook for the markets in the region.