28.01.2015 - Statistics from the US worsened the mood of investors
US stock indexes showed a decline against the background of corporate reports of Microsoft and Caterpillar, which disappointed investors. At the same time, the volume of durable goods orders unexpectedly fell by 3.4% against the expected growth of 0.6%. Growth in sales of new homes to 481 thousand against the forecast of 252 thousand and increase of consumer confidence to 102.9, compared with an expected 95.3 could not offset the negative. Today, the focus will be on the Fed's statement on monetary policy, but we do not expect any change of forecasts for rising interest rates. We recommend to wait for a signal to open positions, but expect increase in the indexes in the medium term.
European stocks also fell on weak corporate reporting of Siemens and Phillips. The reason for the reduction was also a fall in the Greek stock market amid speculations regarding the impossibility of repayment of the Greek debt, which could lead to a default of the country and threatens the financial stability of the euro area. The consumer confidence index in Germany rose to 9.3 in February, which is 0.1 better than expected. The further course of trading will depend on the development of the situation with the Greek debt crisis. The main events of this week are scheduled for Friday. We expect continued growth in prices in the medium term due to the launch of the program of quantitative easing.
Markets in the Asia-Pacific region showed a deterioration in sentiment among investors due to negative external background from the United States. Today it became known that the consumer price index in Australia increased by 0.2% in the 4th quarter of last year, which is 0.1% less than the forecast. Chinese investors are in no hurry to accumulate positions before the Fed announcement and the release of US GDP data on Friday. It is worth noting that the markets in the region remain under pressure of GDP decline of Japan and the reduction in the rate the growth in China. We expect growth on the markets in connection with the program of quantitative easing in the euro area, but note the possibility of resuming the downward movement due to the deteriorating macroeconomic indicators.