16.06.2015 - Greece continues to put pressure on the markets

US stock markets showed a decline amid fears of investors on a default of Greece, which must repay to the IMF debt of about 1.6 billion euros. In addition, investors were disappointed by the weak data on industrial production in the US, which in May fell by 0.2% against the forecasted growth of 0.2%. Today, the dynamics will depend on the vital statistics on the housing market in the US (12:30 GMT). Investor’s activity will be constrained by the expectation of the Fed's statement on monetary policy tomorrow and forecasts of US economic growth. Our medium-term outlook remains positive, but in the near future we may see a drop on the markets.

May 5, 2015 USSPX Graph

European stocks fall on the background of the lack of consensus between Greece and creditors on the issues of budget surplus in the country and cuts in social spending. In connection with these negotiations and the passage of time possible default of the country, market volatility will increase. Mario Draghi said yesterday that the euro area economy continues to recover at a moderate pace and inflation is likely to accelerate towards the end of the year. Our medium-term outlook remains positive due to the effect of the quantitative easing program, and we expect the resumption of growth after the problems with the Greek debt will be solved.

Markets in the Asia-Pacific region fell on investor sentiment worsening in the world due to the increasing risk of a default by Greece. In addition, investors are waiting for the outcome of the meeting of the US Federal Reserve on monetary policy, as well as the publication of forecasts on economic growth in the United States. The minutes of the previous meeting of the Reserve Bank of Australia was awarded the opportunity to further reduction of interest rates to stimulate consumption and investments in the country. Tomorrow the course of trading will be affected by the data on the trade balance of Japan. We expect growth on the markets of the region in the medium term and expect high volatility in the coming days.

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