20.04.2015 - Market sentiment deteriorated
US stock indexes showed decline amid the abolition of restrictions on margin trading and short selling in China. At the same time, analysts continue to monitor the negotiation process between Greece and the creditors, the failure of which may lead to a sharp drop on the stock markets. The Consumer Price Index in the US in March rose by 0.2%, in line with expectations of analysts, and the index of US consumer confidence rose to 95.9, vs. expected 93.8. Today indexes probably will correct upwards after falling sharply on Friday, but the activity of traders will be limited due to the lack of publication of important macroeconomic data. We maintain our positive outlook for the medium-term, but correction on the markets may continue in the near future.
European stocks fell heavily on Friday amid growing fears of a Greek default. In the IMF said they did not intend to give a delay in payment on the loan. Positive for British investors have become strong data on unemployment, which fell by 0.1% in February to 5.6%, and the employment rate reached a historic high at 73.4%. Today, the indexes are corrected after the sharp decline on Friday. And tomorrow, the course of trading will depend on the statistics on the index of business sentiment in Germany and the European Union. We maintain a positive medium-term outlook for markets in the region due to the positive effect of the quantitative easing program, but the risks associated with Greece could lead to a drop in the indexes in Europe.
Markets in the Asia-Pacific region showed a decrease on the background of deterioration in investor sentiment in the US, as well as in connection with the removal of restrictions on margin trading and short positions opening on the Chinese market. Strengthening of the yen has traditionally had a negative impact on Japanese exporters. Australian investors awaited the speech by the chairman of the Reserve Bank of Australia (16:30 GMT). Our medium-term outlook for the markets of the region remains positive due to the expectation of further stimulating economic growth in China and loose monetary policy in Japan.