23.01.2015 - The ECB supported the bull market

US stock indexes have shown a steady growth yesterday following a statement of the ECB to launch an expanded program of quantitative easing in the Eurozone with a monthly volume of asset purchases for 60 billion euros. At the same time, labor market statistics in the United States showed a decrease in the number of initial unemployment claims in the United States to 307 thousand compared with an expected 301 thousand. Today, the course of trading will be affected by the data on the index of business activity in the manufacturing sector of the US (14:45 GMT), home sales on the secondary market and the index of leading economic indicators (15:00 GMT). We expect continued growth on the background of positive from the Eurozone and updating of historic highs in the near future.

European stock markets continued their strong growth following a statement of the head of the ECB, Mario Draghi on the launch of the program of quantitative easing with the plan of asset purchases for 60 billion euros on a monthly basis until September 2016, which has met the most optimistic forecasts and should support the growth of markets in the near future. Today was published the data on the Eurozone manufacturing PMI, which rose by 0.4 to 51.0 and service PMI, which rose to 52.3 against 51.6. We expect the price growth in the medium term and in the near future.

Markets in the Asia-Pacific region continued to grow on the background of positive external background caused by the decision of the ECB to stimulate inflation by using quantitative easing. It is also worth noting the positive impact of a weaker yen on the Tokyo market. Today also have been published data on the manufacturing PMI in Japan and China, which rose to 52.1 and 49.8 respectively. Potential improvement in demand in the euro area should support the markets in the region in connection with which we improve the medium-term outlook for markets in the region, but we want to pay attention to saving weak macroeconomic indicators in the region and construction crisis in China.

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