13.11.2015 - Investor sentiment has deteriorated
American stock indexes fell yesterday amid falling shares of companies in the energy sector, which was caused by the fall in oil prices to the lowest level since August of this year. Statements by the Fed officials yesterday failed to significantly affect investors' expectations regarding the timing of the Fed raising interest rates. Today, the dynamics of trading will be affected by the news on retail sales (13:30 GMT), business inventories and consumer confidence index from the University of Michigan (15:00 GMT). We expect increased volatility and maintain the medium-term positive outlook. The current correction is likely to continue in the near future.
European stock indexes show a decline following the US market, as well as the contradictory statistics from the Eurozone. Thus, the trade surplus increased in September to 20.1 billion against the expected 19.4 billion, but the growth of GDP according to preliminary data for the third quarter was only 0.3%, which is 0.1% worse than forecast and the previous figure. On Monday will be published important statistics on consumer price inflation in the euro area, which will increase volatility before the meeting of the ECB on December 3rd. Our medium-term outlook for the market in the region is positive, but we expect a correction in the near future.
Markets in the Asia-Pacific region fell today against the background of deteriorating global sentiment. Today was published data on the growth of industrial production in Japan by 1.1% in September, which is 0.1% better than analysts' expectations. At the same time, the strengthening of the yen against the US dollar held back the bulls. The fall in commodity markets was negatively displayed on the shares of commodity companies. Strong influence on the mood of investors on Monday will have the statistics on Japan's GDP for the 3rd quarter. We remain medium-term positive outlook for the market in the region, but the decline may continue in the near future.