American stock indexes showed a decrease due to lower oil prices, expectations of publication of the Fed statement on monetary policy tomorrow and weak statistics on new home sales, the number of which in March had fallen to 511 thousand vs. expected 521 thousand. Today, the dynamics of trading will affect the data on the volume of orders for durable goods (12:30 GMT) and the index of US consumer confidence from Conference Board (14:00 GMT). In case of hawkish rhetoric at tomorrow's Fed statement, we expect the fall of the US stock markets, which also is due to contradictory corporate reporting season. Our forecast for the US market in the coming months remains negative.
European stocks were little changed today due to the lack of important news in the region. British investors were pleased by the Obama statement in which he supported the saving of the UK within the EU. Tomorrow we should pay attention to the statistics on the index of consumer confidence in Germany and the publication of the preliminary report on the growth of UK GDP for the 1st quarter. We expect increased volatility in the second half of the week in connection with the statement of the Fed and the likely correction on commodity markets. Our medium-term outlook remains positive.
Markets in the Asia-Pacific region did not show uniform dynamics during today's trading. The strengthening of the yen against the US dollar had a negative impact on the shares of exporters. At the same time investors are waiting for the statement of the Bank of Japan on Thursday. Earlier, the markets growth was supported by speculation about the possible introduction of negative credit interest rates on the Bank of Japan. We expect increased volatility on the markets of the region in the coming days and the likely decrease in commodity markets may lead to lower stock indexes. Despite this, the medium-term outlook remains positive.