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17.11.2016 - Markets need new incentives for further growth

American stock indices ended yesterday's trading session with a slight change due to uncertainty about the future growth prospects of the local market. It is worth noting that the volume of industrial production in the US in October, showed zero growth, which is 0.2% worse than the forecast. Today, the dynamics of trading will affect the news on the labor market (13:30 GMT), as well as the speech of the Fed's chief Janet Yellen (15:00 GMT). At the moment, we see no reason to continue the growth and there is a high probability of the correction on the US market. Our medium-term outlook remains negative with the potential of reduction reduce by 10-15%.


European stocks today show a slight change. Investors did not rush with actions in connection with the high level of uncertainty and lack of drivers for further growth. Data on the growth of inflation in the euro area to 0.5% in October, which is 0.1% better than the forecast increases the likelihood of reducing the quantitative easing program in the Eurozone next year. Support for the UK market was the news on the growth of retail sales by 1.9% in October against the forecast of 0.5%. We expect the growth of political risks in the euro area in the coming quarters and maintain a medium-term negative outlook.

Markets in the Asia-Pacific region today showed minimal change. Correction of the yen after the strong decline of the previous days had a negative impact on the course of trading. Investors are waiting for the clearer position of the US on the trans-Pacific cooperation perspectives, which deteriorated after the victory of Donald Trump at the US presidential election. The Australian market was supported by data on the unemployment rate, which was 5.6% that is 0.1% better than expected. Our medium-term outlook for the region's markets remains negative and the movement in the near future will depend from the news from the US and commodity prices dynamics.

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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