03.07.2015 - Markets are awaiting for the results of a referendum in Greece
US stock indexes showed a slight decline against the publication of controversial statistics on the US labor market. Thus, the unemployment rate fell to its lowest level since 2008, to 5.3%, against 5.5% in May. On the other hand the number of new jobs grew by 223 thousand, against a forecast of 231 thousand and the figure for the previous month was revised to 254 thousand, against the previous estimate of 280 thousand. The volume of factory orders fell by 1.0% in May, which is 0.5% worse than analysts' expectations. Investors were in no hurry to build up positions ahead of the referendum in Greece. US markets are closed today because of the celebration of the Independence Day of the United States. Our medium-term outlook remains positive.
European stocks are near the previous close, due to the anticipation of the publication of the results of the referendum on the austerity measures in Greece, which will be held on Sunday. In case of a negative response of voters regarding the austerity measures, Greece may leave the Eurozone and stock markets in the region will show a sharp decline. Today, British investors were supported by the statistics on construction PMI, which rose to 58.5 in June against 56.5 in May. Service PMI in the Eurozone remained at 54.4. We expect a strong increase in volatility on Monday and maintain the medium-term outlook for the European market in the medium term.
Markets in the Asia-Pacific region are under the pressure of reduction of the Shanghai index, which continues to decline in recent weeks. Negative for Chinese investors today also has become the service PMI data from the bank HSBC, which fell to 51.8 in June that was 2.0 worse than expected. Slight growth was noted on the Japanese market. The mood Australian investors deteriorated against the backdrop of weak statistics on retail sales, which rose by 0.3% against the expected 0.5% increase. The fall on the markets may continue in the near future, but in the medium term, we expect growth of indexes.