US stock indexes showed growth amid expectations of a later increase in interest rates by the Fed after the publication of minutes of the previous meeting of the Federal Open Market Committee. In addition, the rise in oil prices supported the quotations of energy companies. Data on the increase in the number of initial unemployment claims to 274 thousand against the previous value of 264 thousand could not change the mood of the market. Today, the central event of the day will be the publication of statistics on the US Consumer Price Index (12:30 GMT), as well as the speech of the Fed chairman (17:00 GMT). On Monday in the US is a holiday. Our medium-term positive outlook remains unchanged, but according to our estimates, the growth potential remains low.
Major European stock indexes have shown growth on improved investor sentiment in the US, as well as due to the statements of European officials, according to which the quantitative easing program operates within the plan and gives positive results for the economy of the euro zone. Today was published data on GDP growth in Germany in the first quarter, according to which the growth rate was 0.3%, which coincided with forecasts of analysts. Particular attention should be paid to the news from the summit in Riga, where he will discuss the Greek crisis and the reform program of the country. Mario Draghi will make a speech at 13:30 GMT, which can also lead to increased volatility. On Monday, most markets in the region will be closed. Our positive outlook for the European indexes remained unchanged.
Markets in the Asia-Pacific region showed growth. The strengthening of the yen restrain the growth on the Japanese market. It is worth noting that today, the Bank of Japan noted that will keep parameters of monetary policy. Thus, the annual volume of purchases of assets will remain at 80 trillion yen. Consumption remains strong, and the situation in employment and wages in the country improves. In addition, Japan is showing signs of growth in residential construction. Chinese indexes continued to increase due to the expectation of new measures to stimulate the economy by the government. We expect a further increase in the value of assets in the region in the medium term.