American stock markets were closed yesterday. Today, investors will return after a long weekend and will continue to assess the impact of statistics on the labor market, which was published on Friday, and was worse than expected. Today, it is worth paying attention to the data on the non-manufacturing PMI in the US (14:00 GMT), as well as the dynamics of oil prices. Our medium-term outlook is negative and we expect the beginning of the correction in the coming weeks.
European stock indexes today are near the previous close. The British market slightly reduced on the background of the saving of negative expectations regarding the growth of the economy after leaving the EU, despite the recent improvement in some macroeconomic indicators. GDP growth in the euro area in the second quarter was 0.3%, in line with expectations. In the UK market strongly affected the data on industrial production, which will be published tomorrow. The central event of the week will be a press conference of the ECB on Thursday. Our medium-term outlook remains negative due to lack of drivers for growth and worsening growth prospects of the global economy.
Markets in the Asia-Pacific region rose modestly today. So, investors continue to assess the prospects for growth on the markets, due to the low potential for growth in the US. It is worth noting that the yen has stabilized, and in case of resumption of the fall of the Japanese currency, we will see a continuation of the positive dynamics of prices on the spot market. Australian investors have followed the statement of the Reserve Bank of Australia, where noted the preservation of the interest rate unchanged at 1.50%. Tomorrow, in the focus will be statistics on GDP growth in Australia in the second quarter. Our medium-term outlook for the region's markets remains negative.