American stock indexes rose yesterday on the background of negotiations between Ukraine, Russia, Germany and France, which took place in Berlin. Representatives of Germany and Russia have declared little progress, but the Ukrainian Minister of Foreign Affairs made it clear that there is no progress. Investors also reacted positively to the data on the growth of business activity index in the housing market of the country to 55 in August against 53 July. Today, the mood of investors will depend on the data on inflation and the housing market in the United States (12:30 GMT). It is worth noting that investors wait for the publication of minutes of the previous meeting of the Fed on Wednesday and speech by Fed at the conference in Jackson Hole, where politicians traditionally make important statements. We look forward to the resumption of the correction on the American stock markets and maintain a medium-term negative outlook.
European stock markets rose yesterday on the lack of deterioration of the situation in Ukraine. In addition, investors expect the ECB's new stimulus package to deal with low inflation and a lack of economic growth in the Eurozone. At the same time, the negative impact of sanctions against Russia continues to put pressure on the European indexes. Today we should pay attention to the balance of payments of the Eurozone (08:00 GMT). Considering the complicated geopolitical situation and the deterioration of economic indicators in the euro area, we maintain a medium-term negative outlook for European markets.
Markets in the Asia-Pacific region rose following the American and European indexes due to lower risks over Ukraine. The successes of the Kurdish military forces against militants, have also improved investor sentiment. The Japanese market is supported by the decline of the yen, while in China was published positive corporate earnings. The Australian market was supported by the protocols of the previous meeting of the Reserve Bank of Australia in which was noted the need to maintain low interest rates. Despite the current optimism on the stock markets in the region, we expect the correction and maintain a medium-term negative forecast.