25.06.2015 - Investors are waiting for the decision on the Greek crisis
American stock indexes fell yesterday on the background of the lack of results of the negotiations with Greece's creditors. Thus, according to the requirements of the creditors, the country needs to carry out pension and tax reform and reduce welfare payments. We recall that in the case of failure of the talks, the country on June 30 may default. The final report on US GDP showed a reduction in the world's largest economy to 0.2%, which is 0.5% better than the previous estimate. Today, investors will continue to follow the negotiation process in Greece. The course of trading will also be affected by the statements by the Fed and statistics on the labor market, personal income and consumer spending in the US (12:30 GMT). To continue the growth is needed a strong stimulus, but our medium-term outlook remains positive.
Major European stock indexes yesterday showed no unified dynamics. The central theme of the market is the Greek crisis. So, yesterday, investors were disappointed by the lack of agreement between the lenders and Greece. It is worth noting that the index of business sentiment in Germany fell in June to 107.4, vs. expected 108.2. Consumer confidence in Germany calculated by Gfk in July fell by 0.1, to 10.1. The course of trading today will be affected by the news on the balance of retail sales in the UK (10:00 GMT). Our medium-term outlook for the market in the region remains positive, despite the current tensions related to the Greek crisis.
The main markets of the Asia-Pacific region showed a negative trend against the background of deterioration in investor sentiment in Europe and the United States, due to the abscence of agreement on Greek reforms. Negative for the Japanese stock market has been the strengthening of the yen as a safe asset on the background of the risks associated with Greece. Tomorrow will be published statistics on household spending, unemployment rate and the consumer price index in Japan. We expect the growth on the stock markets in the region and we expect increased volatility in the near future.