US stock markets were closed yesterday in connection with celebrating of Presidents Day. Today, the course of trading will be affected by data on the index of business activity in the manufacturing sector of New York (13:30 GMT) and the index of business activity in the housing market. At the same time in focus is the situation with the Greek crisis. At the moment, US stock indexes are near historic highs, for overcoming of which will be needed a substantial stimulus. Investors will not rush to accumulate positions before the publication of the minutes of the previous meeting of the Fed. We maintain our positive outlook for the medium-term, but expect a decline in the near future.
European stocks decline on negative investor expectations regarding the possibility of restructuring Greek debt. Positive statistics on the growth of the Eurozone trade surplus to 23.3 billion euros that is 2.0 billion euros better than the forecast, could not change the dynamics of trading. Today, investors wait for the news from the summit of Eurozone finance ministers. The index of business confidence in Germany rose by 4.6, to 53.00, and in the euro area to 52.7 in February from 45.2 in January. We see the improvement of macroeconomic indicators in the euro area, but note the negative impact of the Greek crisis on investor sentiment. Our medium-term outlook remains positive.
Markets in the Asia-Pacific region ended the trading session near the previous close. In China begins the celebration of the New Year, which will last until 24 February. In the minutes of the Reserve Bank of Australia, analysts did not see the new facts that could affect the mood of investors in the near future. The Japanese market is under pressure from the strengthening of the yen. Traders expect the statement of the Bank of Japan which may point to lower rates of monetary easing in the country. Investors continue to monitor the situation in the euro area which experiencing ongoing debt crisis in Greece. We maintain a positive medium-term outlook for the markets of the region.