US stock markets continued to consolidate around the previous close on the background of continuing uncertainty regarding the next steps on the Fed's monetary policy. It should be noted that support for the market yesterday was the news on the growth of the number of housing starts to 1.21 million vs. expected 1.14 million. Investors continue to monitor the corporate reporting season in the US, which has a contradictory impact on investor sentiment. Our medium-term outlook remains positive and we expect continued growth after the current consolidation.
European stock indexes showed moderate growth, which is constrained by the news of the weak economic growth in China, which has a negative effect on European markets. It is worth noting that investors do not hurry to build up positions ahead of tomorrow's press conference of the ECB President Mario Draghi after the publication of the decision on interest rates by the ECB. According to our estimates the parameters of the monetary policy will remain unchanged, but Mr. Draghi noted the intention to use additional measures to stimulate inflation in the euro area. In addition, tomorrow, we should pay attention to the data on retail sales in the UK. Our medium-term outlook remains positive.
Markets in the Asia-Pacific region showed different dynamics. Japanese indexes were supported by the weakening of the yen against the US dollar and weak statistics on the trade balance, where the deficit in September was 0.36 trillion yen compared to the forecast of 0.07 trillion yen. The weakening of the macroeconomic indicators in Japan encourages the Bank of Japan to additional stimulus measures, which will be displayed on a positive investor sentiment. The Chinese market is under the pressure from weak statistics for GDP growth, which slowed in the third quarter to its lowest level since 2009. The fall in commodity prices pulled down the Australian market. We expect growth on the markets of the region in the medium term.