22.01.2016 - Optimism in the markets rose sharply

Futures on US stock indexes show growth after yesterday's increase, which was caused by a sharp rebound in oil prices, as well as a statement by Mario Draghi after the ECB's decision to save the monetary policy settings unchanged. The head of the ECB hinted at revising the parameters of monetary policy, which will be positively displayed on the stock markets in Europe and will lead to a decline of the euro. The correction in Asian markets also have a positive impact on investor sentiment. Today will be published statistics on the manufacturing PMI (Markit) (14:45 GMT) and sales on the secondary real estate market. We expect a continuation of the correction in the near future, but the drop will continue according to our estimates.

European markets are growing against the background of increasing in the US and Asian markets as well as rising oil prices. An important factor is the yesterday hint of the ECB President Mario Draghi on the possible monetary easing by the ECB in case of need at the next meeting of the ECB. Optimism in the market weakened after the publication of statistics on manufacturing and service PMI in the euro zone, which fell to 52.3 and 53.6, vs. expected 53.0 and 54.2, respectively. Retail sales in the UK in December fell by 1.0%, which is significantly worse than the expected decline of 0.1%. We expect the current positive momentum in the near future.

Markets in the Asia-Pacific region showed strong growth following the improvement in sentiment in Europe and the US, as well as rising prices for raw materials. Demand for the yen as a protective asset fell, which has led to its decline. In addition, investors are waiting for the meeting of the Bank of Japan at which may be decided on additional measures to stimulate inflation. The meeting will be held on January 28-29. It should be noted that the fixation of short positions after a strong reduction stimulates the growth of prices. The current correction may continue in the near future. The situation in the markets of the region remains fragile.

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