US markets have shown strong growth at the beginning of the trading week, despite the negative impact of terrorist attacks in Paris. The reason for the growth was the fixation after strong fall in global stock markets last week. Yesterday was published statistics on manufacturing PMI New York that was -10.7 in November against 11.4 in October. Today, a significant impact on the course of trading will have inflation data (13:30 GMT), the growth of which will lead to a strengthening of the dollar. Also, we should pay attention to the data on industrial production in the US (14:15 GMT). We expect increased volatility today, and do not rule out the resumption of the negative dynamics of prices. At the same time, our medium-term outlook remains negative.
European stocks yesterday showed increased volatility on the background of deterioration in investor sentiment after the Islamists’ attacks in Paris. Despite this, the markets quickly regained lost ground and continued to rise amid rising core inflation in the euro area and 1.1% in October, which is 0.1% better than the previous forecast. At the same time, the consumer price index rose 0.1% last month. Today, we need to pay attention to the statistics on inflation in the UK (09:30 GMT) and the index of consumer confidence in the business circles of the Eurozone (10:00 GMT). Our medium-term outlook remains positive, and we expect continued high levels of volatility.
Markets in the Asia-Pacific region today show an improvement in investor sentiment. The Japanese market is supported by the weakening of the yen despite the publication of weak statistics on reduced Japan's GDP by 0.2% in the third quarter of this year. Today have been published the minutes of the previous meeting of the RBA, which pointed to an improved outlook for economic growth. Tomorrow we should pay attention to the data on the index of leading economic indicators in Australia. We maintain a positive medium-term outlook for the markets of the region.