US stock markets continued cautious growth after the statements of the Federal Reserve chairman Janet Yellen according to which it can be concluded that interest rates will not rise in the next two meetings, but probably will be raised this year. It should be noted that the statistics on consumer confidence in the US disappointed investors. Today, the course of trading will be affected by the data on new home sales in the US (15:00 GMT) and oil and petroleum products in the US (15:30 GMT). We expect that investors will not rush to build up positions before the publication of statistics on US GDP growth.
Major stock indexes in Europe showed growth and updated seven-year highs. The reason for optimism was the confirmation of information about the European Commission approval of the continuation of the loan program for Greece. At the same time, after the statements of the Federal Reserve, investors concluded that the interest rates of the Fed will not be raised until July. Today, volatility will be reduced and the market will wait for news on the labor market in Germany and the target volume of LTRO program. Given the launch of quantitative easing in the euro area and improved expectations for the resolution of the Greek crisis, we maintain a positive medium-term outlook for the stock indexes in the region.
Markets in the Asia-Pacific region ended the trading session with little change. Chinese stock market showed strong price movement despite the long weekend caused by the celebration of the New Year. Today was published positive statistics on the growth of the manufacturing PMI in China, which according to preliminary figures rose to 50.1 against 49.6 expected. Increased activity of Japanese traders expected on Friday after the publication of a large block of statistics in the country. We maintain a positive medium-term outlook for markets in the region.