Major US indexes showed a strong decline in the last day of the trading week against the background of the fall of the producer price index by 0.5% in February, against the expected growth of 0.2%. In addition, the consumer confidence index from the University of Michigan in March fell to 91.2 against 95.6 expected. Today, it is worth paying attention to data on industrial production in the US (13:15 GMT). Investors will be cautious before publication economic forecasts and Fed statement on Wednesday. We expect the index to fall in the near future, but the medium-term outlook remains positive.
European stocks showed different dynamics in the last trading session of the week. British investors were disappointed by weak data on the construction sector, where output fell by 2.6% against the expected growth of 1.4%. At the same time, the markets of France and Germany showed an increase. We recall that last week we launched a program of quantitative easing in the euro area, which will support the growth of stock indexes up to September 2016. Today, the course of trading will be affected by the speech of Mario Draghi. It is worth remembering about the negative impact of the Greek crisis on investor sentiment. We maintain a positive medium-term outlook for European markets.
Markets in the Asia-Pacific region showed a positive trend. The Chinese market has supported the Government's statement on supporting economic growth in the country in case of reduction of the number of jobs or wages. It is worth noting that at the moment there are number of factors which point to the deteriorating economic situation in China, including a reduction in imports, a slowdown in GDP and industry growth and the crisis in the construction sector. The Japanese market has not changed much. Tomorrow the course of trading in the region will affected by the statement of the Bank of Japan on monetary policy and the publication of the minutes of the previous meeting of the Reserve Bank of Australia. We maintain a positive medium-term outlook for the markets of the region.