30.10.2014 - Growth at the market has stopped and traders wait for US GDP data
US stock indexes have not changed, despite the Federal Reserve statement on monetary policy. So, it was stated that the quantitative easing program, which was launched in September 2012, is completed. It was also noted that inflation remains below to the target level of 2.0% and decline in oil prices will not have a lasting effect on inflation. At the same time interest rates are likely to be raised in September 2015. Today investors will be focused to the statistics on the growth of US GDP for the 3rd quarter and the data on the labor market (12:30 GMT). We maintain a medium-term negative outlook on the US stock market.
European stocks showed no unified dynamics yesterday. Investor activity was quite low due to the expectation of the Fed statement on monetary policy. At the same time, negative for the market has become the data on lending in the UK, where the number of permits for mortgage lending fell in September to 61 thousand and 64 thousand versus August. The volume of lending in the UK fell to 2.7 billion in September, 0.5 billion less than the previous figure. Spain's GDP showed growth of 0.5% in the 3rd quarter, in line with expectations of analysts, and the number of unemployed in Germany fell by 22 thousand, versus the expected increase of 4 thousand. Volatility will increase after the publication of statistics on US GDP growth. We maintain a medium-term negative outlook on the stock markets of Europe.
Markets in the Asia-Pacific region finished trading with mixed dynamics. Fed statement has led to growth stop on the US market. The Japanese market has grown due to the weakening of the yen and Chinese investors have been pleased by the statements about future support of 6 sectors of the Chinese economy, which suffered from the crisis in the construction sector of the country. Despite this, the prices of industrial metals fell, continues to negatively affect the mood of Australian investors. We maintain a medium-term negative outlook on the markets in the region and we expect increased volatility today after the publication of data on US GDP and after the release of a large block of statistics from Japan.