04.06.2015 - We expect increased volatility on the markets tomorrow
US stocks yesterday showed a slight increase on news on willingness of creditors to compromise with Greece to avoid a default of the country. At the same time, statistics on non-productive PMI supported the US investors. In May figure was 55.7, which is worse than the previous figure by 0.1, but 0.6 better than analysts' forecasts. Today, the dynamics of trading will be affected by the news on the labor market in the US (12:30 GMT), but more important statistics will be published tomorrow, which can greatly affect expectations about the Fed raising interest rates. We maintain a positive medium-term outlook for the markets of America.
European stocks showed strong growth due to the hope on a speedy solution of the problem of Greek debt restructuring, which will allow the country to avoid default. Mario Draghi during a press conference, noted the effectiveness of quantitative easing in the euro area and noted rising inflation and inflation expectations in the euro area. Unemployment in the euro zone fell by 0.1% to 11.1%. Tomorrow will be published important statistics on GDP growth in the euro area in Q1. Positive expectations concerning the Greek crisis and the impact of quantitative easing will stimulate the growth of the European market in the near future and medium term.
Markets in the Asia-Pacific region ended the trading session near the previous close levels. Investors continue to monitor the uncertainty on the US stock markets as well as the negotiation process between Greece and creditors. Australian investors today were disappointed by the statistics on the country's trade balance the deficit of which reached a record 3.89 billion vs. expected 2.17 billion increase in April. The reason for this result was the low prices for export commodities. In addition, the country's retail sales have not changed, despite the expected increase of 0.4% in April. We keep medium-term positive outlook for the market in the region, but in the near future will probably see a consolidation around current levels.