The American stock market showed an increase in volatility yesterday, but closed the session with a slight change. The Federal Open Market Committee has left interest rates unchanged. The reason for this step was the growth of the risks associated with crisis in China, as well as lower inflation in the United States. At the same time, the Fed noted the possibility of monetary tightening before the end of the year. In this regard, the situation on the domestic stock market remains uncertain. Today, little impact on the course of trading will have data on the index of leading economic indicators in the US in August (14:00 GMT). Our medium-term outlook remains positive.
European stock markets yesterday showed different dynamics and today are lower after the Fed's statement on monetary policy. This decision reinforces the fears of a slowdown in economic growth in the world. Positive for British investors yesterday was the news on the growth of retail sales in August by 0.2%, against 0.0% in the previous period. Today, was released the on the euro area balance of payments, which in July rose to 22.6 billion compared to the forecast of 21.3 billion. We expect growth on the stock markets in Europe in the medium term despite the current decline.
Markets in the Asia-Pacific region did not show uniform dynamics. So, the Chinese indices rose slightly, but the Japanese market fell due to the rise of the yen after the Fed's decision to maintain the monetary policy settings unchanged. Shares of export-oriented companies traditionally are falling on a stronger yen. On Monday, in Japan will be a holiday. We expect the resumption of positive dynamics in the markets of the region after the stabilization of the situation in China.