US stock indexes ended yesterday's trading session around the previous closing levels. Investors were disappointed by data on personal consumer spending, which grew by only 0.1% in February against the forecast of 0.2%. At the same time, personal income of consumers increased by 0.2%, which is 0.1% more than expected. Today will be released a report on consumer confidence in the US from the Conference Board (14:00 GMT). Particular attention should be paid to the speech of the Fed chief (16:20 GMT). We expect a correction in the US stock market in the near future.
European stock markets are now showing moderate optimism after the holidays. In the coming days will not be published important statistics and investor sentiment will affect the news from the US and Asia, as well as the dynamics on the commodity markets. It is worth noting that on Thursday will be released the data on UK’s GDP, inflation in the Eurozone and retail sales in Germany. Given the positive impact of the program of quantitative easing in the Eurozone, we expect growth on the stock markets of the region, but among the possible risks remain drop on the stock markets in the US and Asia, as well as the decline in oil prices.
Stock indexes of the Asia-Pacific region did not show uniform dynamics. Despite the weakening of the yen, Japanese assets showed a reduction in connection with the publication of statistics, according to which the country's unemployment rate rose by 0.1% to 3.3%, retail sales increased by 0.5%, which is 1.1% worse than forecast but household spending rose by 1.2% compared with the expected decline of 1.8%. Tomorrow will be published data on industrial production in Japan. We expect growth on the markets of the region, but in the near future there is a possibility of short-term decline.