The US stock market yesterday showed a slight decrease on the background of negativity associated with a possible Greek exit from the euro zone after the referendum at which voted against the austerity measures needed to restructure the country's debt. Support for the market was the increase in non-manufacturing PMI of the United States, which in June rose to 56.0, which is 0.3 better than the previous figure. Today, the course of trading will be affected by the data on the trade balance (12:30 GMT) and the number of vacancies on the labor market of the USA (14:00 GMT). We expect growth in the US market in the medium term, but the decline may continue in the near future.
European stocks continue to decline against the backdrop of the Greek crisis as a result of which the probability of exit from the euro area is high. Today there is a meeting of the leaders of the European Union, at which will discuss current issues related to Greece. Industrial production in Germany remained unchanged in May, but analysts forecast an increase of 0.1%. At the same time it is worth noting the growth of industrial production in the UK by 0.4% in May, against an expected fall of 0.2%. We keep our positive medium-term outlook for European markets, but the current decline may continue in the near future.
Markets in the Asia-Pacific region continue to fall due to a sharp decline on the Chinese stock market. It is worth mentioning that on Saturday 21 brokerage companies signed an agreement according to which decided to spend 120 billion yuan to support the country's stock market, which plummeted from mid-June. Despite these actions, as well as measures to support the country's stock market by the government, the Shanghai index continues to fall steadily. The Japanese market is under pressure from the Greek crisis. The RBA has left the parameters of monetary policy in Australia unchanged. Our medium-term view of the stock market in the region remains positive, but the fall is likely to continue in the near future and volatility will be increased.