US stocks continued to consolidate yesterday. The reason for such dynamics was the absence of new drivers for growth, the expectation of the publication of statistics on the growth of US GDP for the 4th quarter and the negative impact of news from Belgium, where yesterday were explosions at the airport and the metro in Brussels. Today, on the mood of investors may influence the important data on new home sales in the US (14:00 GMT). Tomorrow will be published a report on the volume of orders for durable goods. We expect a correction on the markets of the country in the near future, after strong growth in previous weeks.
European stock indexes are now showing positive dynamics after yesterday's fall caused by the terrorist attack in Brussels. It is worth noting that the shares of companies related to tourism and travel companies continue to fall. On the other hand automakers’ quotes rise amid euro's decline. The UK market is under the pressure from speculation about the growth probability of the UK’s exit from the EU structure, which is associated with yesterday's terrorist attacks. Tomorrow we should pay attention to the statistics on retail sales in the UK. We maintain a positive outlook on the region's markets due to the stimulus measures in the euro area.
Markets in the Asia-Pacific region ended the trading session around the previous closing levels amid expectations of new signal on the market. Activity of investors in the US and Europe is reduced in connection with the celebration of Easter. At the same time investors are waiting for the US GDP growth data for the 4th quarter. After the current consolidation, we expect a rise in volatility. On Friday, an important statistics on inflation will be released in Japan. The Japanese market continues to be dependent on the dynamics of the yen and its weakening may become a major driver of growth in the near future. Our medium-term outlook for the region's markets remains positive.