08.07.2015 - Panic selling continued on the Chinese market

US stock indexes showed gains during yesterday's trading session, after declining on the previous day. Investors continue to monitor the unsuccessful negotiations between Greece and creditors. Support for the market has become the data on the growth of the number of open positions in the US, which grew to 5.36 million compared to 5.33 million. Today, the focus of investors will be on the publication of the minutes of the previous meeting of the Federal Open Market Committee of the Federal Reserve (18:00 GMT), where traders will watch for a hint on the timing of rising interest rates the Fed. We expect growth of US indexes in the medium term despite a likely drop in the near future.

May 19 of USD Performance

European stocks are under the pressure of negative factors in the absence of the results of negotiations on the Greek crisis. It is worth noting that Greece may leave the Eurozone in the coming weeks, which will lead to negative consequences for the financial system of the entire European Union. Today quotes are adjusted upwards against technical factors and speculations about further development of the Greek crisis. Negative for the European markets and a drop on the Chinese stock market by more than 30% over the past few weeks. Support for the markets in Europe remains a program of quantitative easing in the Eurozone. We keep medium-term positive outlook, but the decline may continue in the near future.

Markets in the Asia-Pacific region are under the pressure of the sharp fall on the Chinese market, which continues despite the efforts of governments and brokers to maintain the stock market in the country. The yen rose against the backdrop of increased demand for defensive assets, strengthening of which leads to the decline on the Japanese market. Falling of commodities prices negatively affected the attitude of investors to the Australian market. Tomorrow the course of trading will be affected by the most important data on the unemployment rate in Australia. We expect increased volatility in the markets of the region in the near future, but expect the resumption of growth after the current correction.

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