21.07.2015 - US indexes are near historic highs
US stock indexes ended the trading session with a slight increase. The positive for the market remains corporate reporting season in the US. It is worth noting that the indexes are close to historic highs, and to overcome them, and continue the growth will be needed a substantial stimulus. Today, in America, is not expected the release of important macroeconomic data, but tomorrow is forecasted the growth of activity after the publication of important data on new home sales in the US. Our medium-term outlook remains positive, but we want to note the high probability of a downward correction in the near future.
European stocks continued to show a positive trend against the background of investors' confidence in overcoming the Greek crisis after reaching an agreement between Greece and creditors and successful vote on the reforms in Greece. Yesterday the negative news for the market has become the reduction of the Eurozoneâs balance of payments surplus to 18.0 billion, which is 5.1 billion worse than analysts' expectations. Today has published statistics on the net borrowing of the public sector that in the UK rose in June to 8.6 billion, in line with analysts' forecasts. We expect growth at the stock markets in the region due to the positive effect of the quantitative easing program.
Markets in the Asia-Pacific region continued to rise today on the background of improved sentiment in the world. The decline of the yen has traditionally supported the Japanese assets. The Chinese market continued to grow, supported by stimulus measures by the People's Bank of China in the form of lower interest rates and lower reserve requirements. The Australian stock market is negatively affected by the lower prices for iron ore and gold. Tomorrow we should pay attention to the data on the index of business activity in Japan and the consumer price index in Australia and the speech of the RBA. Our medium-term outlook for the stock indexes in the region remains positive.