11.04.2016 - Today kicks off the corporate reporting season in the US
Futures on US stock indexes today show growth after trading session ended on Friday near the previous close levels. The rhetoric of Fed representatives on the need for a gradual increase in interest rates will maintain the optimism on the market. Today, volatility may rise slightly after a speech by US Treasury (12:30 GMT). On Wednesday will be published important data on US retail sales. We expect the decline on the US stock market in the coming weeks due to the beginning of the season of corporate reporting, which may disappoint investors and forecast decline in oil prices.
European stock indexes today do not show uniform dynamics. The fall in oil prices reduces the optimism on the market. At the same time today, will not be published important macroeconomic indexes and movement will depend on speculations regarding the prospects of the global economy and forecasts relating to the referendum on the UK's membership of the European Union. Tomorrow, the dynamics of trading in the UK will affect the data on the inflation in the country, and on Thursday will be published the Bank of England's decision on monetary policy. Considering the positive effects of the quantitative easing program, we maintain a positive medium-term outlook for the region's markets, but we can see a continuation of negative trends in the near future.
Markets in the Asia-Pacific region showed mixed dynamics today. The reason for the decline of the Japanese market has been the strengthening of the yen against the US dollar. According to our estimates, the potential reduction of the Japanese indexes has declined, but further strengthening of the yen and a possible drop in US markets will continue to put pressure on the Japanese market. Tomorrow we should pay attention to statistics on the volume of orders for engineering equipment in Japan. Chinese indexes rose today. Support was the improvement in manufacturing inflation, which was -4.3% in March vs. -4.9% in February. Strong movements is expected on Friday after the publication of the report on GDP and industrial production in China. Our medium-term outlook for the region's markets remains positive.