US stock indexes have updated historical highs despite weak statistics. Thus, the index of business activity in the housing market fell to 54 in May, vs. expected 57. Falling of oil prices have a negative impact on the value of oil companies. It is worth recalling that the weak data on industrial production in the US, which fell by 0.3% in April, is increasing the likelihood of a later increase in interest rates of the Fed. Today, the course of trading will be affected by the data on the number of housing starts and the number of permits issued for construction of new homes in the US (12:30 GMT). Our medium-term outlook remains positive, and we expect growth on the US market in the near future.
The main European stock indexes showed growth despite the lack of progress in the negotiations on the restructuring of Greek debt. It is worth noting the positive impact of the monthly report of the Central Bank of Germany in which has been noted an increase in consumer confidence and expectations of further growth in the German economy in the near future. At the same time, the ECB noted positive impact of quantitative easing and credit growth. The growth of consumer inflation in the UK slowed in April to 0.8%, which is 0.2% worse than the forecast, and there were no inflation in the Eurozone. The trade surplus narrowed to 19.7 billion against the expected 22.9 billion. We maintain a positive medium-term outlook for the markets of the region.
Markets in the Asia-Pacific region showed growth on the back of improved sentiment in the United States. It is worth noting that the US indexes updated highs. Support for the Japanese market was the fall of the yen. Chinese indexes showed an increase due to the government's intention to stimulate the growth of production through taxes. Strong influence on the course of trading in the region will have the publication of data on GDP growth in Japan in the first quarter. Statistics will be published tonight at 23:50 GMT. The Australian market is supported by the recent improvement of the situation in the commodities market. We maintain a medium-term negative outlook on the stock markets of the region.