07.09.2016 - Stock markets continue to consolidate

American stock indexes showed modest growth against a background of reducing the likelihood of the Fed raising interest rates after the meeting of Federal Open Market Committee on 20-21 September. The reason for such sentiment on the market has become weak labor market data, which was released on Friday and drop in services PMI in the United States to its lowest level since January 2010, to 51.4 in August from 55.5 in July. Today, the dynamics of trading will affect the news on the number of open vacancies (14:00 GMT) and publication of the Beige Book (18:00 GMT). The impact on investor sentiment will have speeches of the Fed's representatives concerning the US monetary policy. Our medium-term outlook remains negative and we look forward to the beginning of the correction in the coming weeks.

European stocks are consolidated around the previous closing levels which is caused by the expectation of the publication of important statistics on the industry in the UK (08:30 GMT), as well as tomorrow's press conference of the head of ECB Mario Draghi. We are not waiting for new stimulus measures by the ECB as a result of tomorrow's meeting, but the rhetoric of the head of the central bank of the Eurozone may affect investor sentiment. The strong influence of traditionally have news from the US. Our medium-term outlook remains negative and we look forward to the resumption of the negative dynamics in the coming weeks.

Markets in the Asia-Pacific region have changed slightly today. On the Japanese market negatively affected the data on the reduction of foreign exchange reserves in the country and the strengthening of the yen. The probability of additional stimulus after BOJ meeting in September is low. It is worth noting that the growth of Australia's GDP in the second quarter was 0.5%, which is 0.1% worse than forecast. The dynamics of trading continues to influence the strong growth of gold and a negative dynamics of oil. Tomorrow we should pay attention to the statistics of Japan's GDP and reports on the trade balance of China and Australia. Our medium-term outlook remains negative and the probability of falling in the near future has increased significantly.

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