The US stock market has shown moderate growth in the last trading session of the last week. US GDP growth in the 4th quarter was 2.2%, which coincided with the previous forecast of analysts, but was 0.2% worse than expected. This fact has strengthened the belief that interest rates of the Fed will not be raised in June. At the same time, the index of consumer confidence in the US in March was 93.00, which is 0.5% better than expected. Today the dynamics of trading will depend on the data on personal income and consumer spending (12:30 GMT). Investors' concerns about the conflict in Yemen declined. We maintain our medium-term positive outlook and expect continued growth today.
European stock indexes finished trading day of the last week near the previous close levels. The statement of the Bank of England that the next step will be the raising of interest rates increased investors' optimism. On the other hand the negative became weak data on US GDP growth. Investors continue to follow the negotiations between Greece and creditors. Today have been published data on the number of mortgage approvals in the UK, which totaled 62 thousand and coincided with forecasts of analysts. Loans to individuals rose in February to 2.5 billion pounds, that is 0.1 billion better than analysts' forecasts. European stock markets according to our forecasts will continue to rise in the medium term due to the program of quantitative easing in the euro area and the inflow of investments, most of which comes from Asia and the Middle East.
Markets in the Asia-Pacific region showed growth against the background of a positive external background of the United States. Negative data on the decline in industrial production in Japan in February by 3.4%, compared with an expected drop of 1.8% disappointed investors in the country, but could not offset the positive from lower oil prices. Reduced concerns about the conflict in Yemen has also improved the expectations of traders. Tomorrow the course of trading will be affected by the data on wages in Japan and sales of new homes in Australia. Our medium-term outlook for the markets of the region is negative.