12.01.2015 - Investors are waiting for the beginning of asset purchases in the euro area

The US stock market on Friday showed a decrease after the publication of statistics on the US labor market. Investors took negatively the information about the fall of the average wage per hour by 5 cents. Wage growth for the year was 1.7%. At the same time, in December, the unemployment rate fell by 0.2% to 5.6%, while the number of new jobs outside the agricultural sector increased by 252 thousand compared with an expected 241 thousand. Today in the US will not be published important macroeconomic data and investors will continue to assess the labor market data released on Friday. It is necessary to mark the beginning of corporate reporting season in the US, which can support the growth of indexes. We maintain our medium-term negative outlook on the US stock markets.

European stock indexes on Friday showed a strong decline against the general negative background on the stock markets of the world, as well as fall in financial sector shares in Spain and Italy. Also it is worth noting the decline in industrial production in Germany by 0.1% in November compared with an expected growth of 0.4%. The same indicator in France fell by 0.3%. Today in the euro area is not planned to be released the important data and investors will behave calmly before tomorrow's publication of data on inflation in the UK. The course of trading may be influenced by the speculation regarding the approval of the asset purchasing program with the amount of 500 billion euros. Our medium-term outlook for European markets remains negative.

Most indexes of the Asia-Pacific region ended the trading session with growth. In Japan today, is a day off. The growth on the markets was triggered by the correction, as well as improvements in investor sentiment in the world. Tomorrow we should pay attention to the data on lending in China, Japan's balance of payments. It should be noted the negative impact of the strengthening of the yen for the shares of Japanese export-oriented companies. We maintain our medium-term negative outlook on the markets in the region due to the deterioration of macroeconomic indicators in the region.

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