US stocks continued to fall on Friday amid growing investor confidence of the Fed raising interest rates in September, which was negatively displayed on the stock markets of the country due to the increasing cost of credit. On Friday was released the important report on the labor market according to which the unemployment rate remained at 5.3%, while the number of new jobs increased by 215 thousand vs. anticipated 222 thousand, indicating a steady improvement in the labor market of the country. Today, the dynamics of trade was affected by the Deputy Head of the Federal Reserve of Stanley Fischer (11:15 GMT). Given the holiday season, we expect the continuation of the movement of the US stock market close to the current levels in the near future. Our medium-term outlook remains positive.
European stock markets continued to correct against the backdrop of weak data on the German trade balance surplus which fell to 22.0 billion euros, which is 1.2 billion less than analysts' expectations. Investors were also disappointed by news of a decrease in industrial production in Germany by 1.4% in June. Today, the reason for the fall was the data on the index of investor confidence in the euro area to 18.4 in August against the predicted increase to 20.2. In the near future we will likely see continued consolidation near current price levels, but in the medium term, we estimate the indexes to continue to rise.
Major stock markets in the Asia-Pacific region showed little change except for the Shanghai index, which rose by almost 5%, despite the weak data on the trade balance of the country. Thus, the surplus for July was 43.0 billion compared to the forecast of 53.4 billion. The Chinese government according to news intensified the process of developing measures to reform state-owned enterprises by means of attracting private capital. Positive for the Japanese market was the statistics on the balance of payments which was reduced to 1.3 trillion in June, against 1.64 trillion in May. We keep medium-term positive outlook for the Asia-Pacific markets.