11.08.2014 - Investor sentiment has improved slightly
American stock indexes finished the last trading session of the week with growth due to in fixation of short positions, as well as news about the end of the military exercises of the Russian troops near the border with Ukraine. Wholesale inventories rose in June by 0.3%, compared with an expected growth of 0.6%, which was also welcomed by the markets. Today the course of trading will be influenced by the speech of a member of the Federal Open Market Committee of the Federal Reserve Stanley Fischer. Today we expect the low volatility and the possible continuation of ascending correction. The medium-term outlook remains negative.
European indexes rise gradually after another decrease on Friday. Thus, investors have been supported by the positive data on the growth of industrial production in France by 1.3%, and budget deficit reduction of the country to 59.4 billion in June. At the same time, Germany's trade surplus fell to 16.2 billion, and the UK's trade deficit unexpectedly rose to 9.4 billion. Today the course of trading can be affected by the data on the index of leading economic indicators of the UK (09:00 GMT). We maintain a medium-term negative outlook for European markets due to the deterioration of relations with Russia and the worsening macroeconomic indicators in the country.
Markets in the Asia-Pacific region show strong growth. Investors in China and Australia continue to buy shares after the positive statistics on strong growth in China's trade surplus. At the same time, the devaluation of the yen supported the Japanese market, despite the weak data on tertiary index in the services sector, which fell by 0.1% in June, rising consumer confidence index to 41.5 in July, compared with an expected 42.3. Tomorrow we should pay attention to statistics on lending in China and industrial production in Japan. We maintain a negative medium-term outlook for the markets in the region.