American stock indexes yesterday showed growth against the background of the further revaluation of the risks associated with the release of the UK from the EU, as well as due to increased production Chicago PMI, which rose unexpectedly to 56.8, against the forecast of 50.6. The pressure on the market had a fall of oil prices. On Monday, in the United States will celebrate Independence Day, and today is worth paying attention to statistics on the manufacturing PMI and construction spending in the US (14:00 GMT). Investors continue to follow the news from Europe and oil prices. According to our estimates, prices fall will resume in the near future.
Major European stock indexes are now are consolidated around the previous closing levels. Today have been published important data on the manufacturing PMI in the Eurozone, which rose by 0.2 to 52.8, and the same indicator in the UK rose to 52.1, against the forecast of 50.0. The unemployment rate in the euro area fell by 0.1% to 10.1%. Given the expected negative effect on the UK’s release of the EU, we expect a continuation of negative trends in the medium term and do not see any reasons for optimism in the near future.
Markets in the Asia-Pacific region showed growth despite publication of weak statistics on China's manufacturing PMI from Caixan, which fell in June by 0.6 to 48.6. This fact increases the probability of additional stimulus of the Chinese economy by the authorities. At the same time in Japan manufacturing PMI rose to 58.1, against 47.8 in May, but was not able to overcome the mark of 50.0 that would be a signal for the resumption of expansion in the sector. The Japanese yen continues to strongly influence the dynamics of the Japanese market. We expect a decline in the near future on the background of high risk and uncertainty on the market.