24.08.2016 - Investors are waiting for statements from Jackson Hole
American stock indexes showed minimal growth. The impulse for the purchases was strong data on new home sales in the US that in July totaled 654 thousand against the forecast of 575 thousand. Today, little impact on the dynamics of trading will have data on existing home sales in the US (14:00 GMT). It is worth noting that at the moment the US indices remain near at historic highs and investors do not hurry to build up positions ahead of the speech of the Fed’s chief Janet Yellen. In the case of hawkish rhetoric of Mrs. Yellen on the timing of increase in US interest rates, stocks with high probability will decrease. Our medium-term outlook remains negative and we look forward to the beginning of correction in the near future.
The main European stock indices show a decline now against a background of uncertainty about the future growth on the stock markets of the world. It is worth noting that today was published the final report on GDP growth in Germany in the second quarter, which was 0.4% that is 0.1% more than the forecast. British investors are waiting for the publication of statistics on the growth of UK’s GDP in the second quarter, as well as news from the US on Friday, which will have a strong influence on the movement of the markets in the medium term. Our medium-term outlook remains negative and we expect the volatility growth in the near future.
Markets in the Asia-Pacific region were moving in different directions. The Japanese market has shown a slight increase in the yen against the background of reduction, as well as by the previous statement of the head of the Bank of Japan about the possibility of further reduction in interest rates in the country. On Friday in Japan, will be published important data on the consumer price index. The main impact on the dynamics of stock markets in the region will have movement on US stock markets. Our medium-term outlook remains negative and we expect increased volatility in the coming days.