16.09.2015 - Investors’ sentiment has improved
American stock markets rose yesterday despite the weak macroeconomic statistics. Thus, retail sales rose in the US by 0.2% vs. expected 0.3%. The volume of industrial production in the US fell in August by 0.4%, partially offset 0.9% growth in July. Investors are waiting for tomorrow's Fed decision on interest rates. It is worth noting, that today will be published an important statistics on an index of consumer prices (12:30 GMT), growth of which probably will strengthen confidence in raising the of interest rates of the Fed at the September’s meeting of the Federal Open Markets Committee. We expect growth in the US market in the medium term.
Main European stock indexes have shown growth yesterday. Traders are waiting for the Fed's statement on monetary policy, and continue to monitor the economic situation in China, which currently remains the main risk for the European stock markets. Today was published strong statistics from UK. Thus, the unemployment rate decreased by 0.1% to 5.5%, the average wage increased by 2.9%, which is 0.4% better than expected. At the same time the number of unemployed in the country increased by 1.2 thousand in August against the forecast of decline by 5.1 thousand. Consumer price index in the Eurozone in August slowed by 0.1%. Analysts had forecasted annual inflation at 0.2%. We keep medium-term positive outlook, despite the recent decline.
Markets in the Asia-Pacific region rose today against the backdrop of the global improvement in investors’ sentiment. Dynamics of trading in the region still strongly depends from the movement of Chinese indexes, which have become cause of the fall of stock markets throughout the world. Stabilization of the situation in China is likely to resume a positive trend of the markets in the region. Tomorrow we should pay attention to the statistics on the trade balance of Japan and the speech of the head of the Bank of Japan. We forecast the return of buyers on the market after stabilization of the situation in China.