27.11.2014 - Volatility on the markets declined. Traders are waiting for the decision of OPEC
Major US indexes rose slightly on weak statistics on the labor market and new home sales. Thus, the number of initial unemployment claims rose to 313 thousand, against a forecast of 287 thousand. Sales of new homes totaled 458 thousand, against the expected 471 thousand. Statistics on durable goods orders, which grew by 0.4%, compared with an expected decline of 0.4% will compensate the negative on the market. Today in the United States celebrate Thanksgiving and trading will not be held. Volatility till the end of the week will be minimal. We maintain our medium-term negative outlook, but assume continued growth in the near future.
European stocks showed sluggish dynamics yesterday. In the UK, have been published data on GDP growth in Q3, which coincided with analysts' forecasts. Thus, the index rose by 0.7% in the 3rd quarter against 0.9% in the previous period. Today, investors have been supported by the data on reduction of the number of unemployed in Germany by 14 thousand, which is 13 thousand better than the forecast. M3 money supply growth in the euro area remained at 2.5% in October. Investors can be supported by the drop in oil prices in case of saving oil production quotas of OPEC countries. We expect the European indexes to continue consolidation near current levels in the near future.
Markets in the Asia-Pacific region showed mixed trends. Japanese investors are afraid of overheating of the market, which grew rapidly after the announcement of the Bank of Japan to ease monetary policy in the country in order to stimulate the growth of inflation and the economy as a whole. The Chinese market continues to grow after a decline in interest rates of People's Bank of China and the expectation of further stimulating of the economy that continues to slow down the growth rate. We maintain our medium-term negative outlook on the markets in the region except for the Japanese, but note the positive effect of the stimulus in China.