2013/11/29

Investors are starting guess when the rally in the market of the USA will end

Yesterday the trading session in Europe has been rather quiet with just a small increase of the main indexes. The statistics which have been published yesterday had moderately positive character. So, unemployment in Germany in November appeared at the level of expectations and didn't change in comparison with the last month – 6,9%%. The index of business climate in Eurozone considerably surpassed forecast and made 0,18 points instead of expected 0,03 points. The consumer price index in Germany in November also appeared to be slightly higher than expectations that has to weaken deflationary fears. As the result, index of London stock exchange FTSE 100 grew by 0,08%%, an index of the Parisian stock exchange CAC 40 - for 0,22%% and an index of the Frankfurt stock exchange DAX – 0,39%%.

Asian indexes did not show uniform dynamics this morning. Unemployment in Japan for October appeared above expectations of the market and made 4%%, the consumer price index coincided with forecast and made 0,9%%. As a result Japanese Nikkei decreased by 0,41%%, the Korean KOSPI – for 0,24%%. Shanghai Composite grew for 0,07%%, Hang Seng – for 0,2%%.

Participants of the world market, independently from the stock market they are trading in, with close attention now follow the American stock market. Everybody is interested of the outcome of the record rally of the USA stock indexes we have seen this year. That it will be hardly anyone doubts - trees don't grow to heavens. Consequences of this outcome will feel on themselves as well all other stock markets.

We would like to remind that already on Sunday night will become known preliminary estimates of a season of sales in America and there is a big share of probability that demand of consumers this year will be weaker and data in whole will show negative results, which certainly can lead to correction. There are all bases to believe that next week we will see the beginning of the correction on the American and other world stock markets.

Friday becomes rather busy day from the point of view of macroeconomic statistics. Early in the morning Japanese data confirmed preservation of annual inflation at the level of 1,1%% which is a good signal for the government which has set as the purpose to overcome a long-term deflation for stimulation of business activity in the country. In the European region will be published main data of this week - indicators of a labor market, we expect at least minor improvement of coefficient of unemployment.

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