30.08.2016 - We see the temporary optimism in the markets
US stock indexes showed moderate growth on Monday. On the one hand investors fear a possible rise in Fed interest rates in September, but on the other hand, the probability of this event is low. Yesterday was published data on personal spending of US consumers that grew by 0.3% in July, which coincided with forecasts of analysts. Today, it is worth paying attention to statistics on house prices in 20 major US cities (13:00 GMT) and the index of US consumer confidence from Conference Board (14:00 GMT). We are waiting for the publication of an important report on the US employment on Friday, which will lead to strong movements on the market. Our medium-term outlook remains negative.
European stocks are rising today after the positive dynamics of US markets yesterday. The British market after the day off yesterday, shows a slight change. Negative for local investors has become weak data on the number of permits issued for mortgage lending, which totaled 61 thousand in July against 64 thousand in the previous month. Net lending to individuals fell to 3.8 billion against 5.1 billion in June. The deterioration of the situation with credit will have negative impact on the country's economy as a whole. Our medium-term outlook for the region remains negative and market growth potential in the near future is limited.
Markets in the Asia-Pacific region showed a moderate positive. The Japanese market has little changed against the background of the stabilization of the price of the yen. It is worth noting that have been published, data on household spending which decreased by 0.5% per year, compared with a drop of 2.3% in June, the unemployment rate fell to 3.0%, which is 0.1% better than expected, and a fall in retail sales for the year slowed to 0.2% compared to 1.3% in June. Tomorrow in Japan will be released, the most important data on industrial production and new homes starts. Our medium-term outlook for the region's markets remains negative, but in case of the yen fall we will see growth on the Japanese market.