26.08.2014 - We expect the start of correction of the American indexes
US stock indexes showed a slight increase in the first trading session of the week, despite the weak housing data in the United States, where the number of new home sales fell to 412 million, that is 14 thousand worse than prognosis. Indexes approached the important levels to overcome which will be necessary a significant incentive. Today we should pay attention to the data on durable goods orders (12:30 GMT), the index of house prices (13:00 GMT) and consumer confidence (14:00 GMT). We look forward to the beginning of the price correction in the near future and save medium-term negative outlook.
Major European stock indexes finished yesterday's trading session with growth after ECB President’s speech on Friday in Jackson Hole, where he declared on future measures for further fight against deflationary risks. The UK market was closed due to a holiday in the country. Among the statistics should be allocated reduction of the index of business confidence in Germany in August to 106.3 against 108.0 in July. Today, investors will be watching the outcome of the meeting of the Presidents of Ukraine and Russia, which may lead to a quick end of the conflict in the east of the country. We maintain medium-term negative outlook.
Markets in the Asia-Pacific region corrected today after yesterday's positive movement. The Japanese market is under the pressure of a stronger yen. The index of leading economic indicators in China grew by 1.3% in July, which coincided with the previous indicator. Investors are in no hurry to open positions considering that the American market approached to a strong level of resistance for breaking through which will be needed a significant incentive. We maintain medium-term negative outlook for the markets in the region except for the Japanese.