27.06.2014 - ​Strengthening of the yen has led to falling of the Japanese index

The U.S. stock market yesterday opened with a significant reduction, but was able to win back most of the losses. The reason for the decline was the statement of the president of the Federal Reserve Bank of St. Louis James Bullard regarding the fact that the rates will be raised in March of the next year. In addition, traders were disappointed by data on consumer spending of Americans which have grown by 0.2% in May, which is twice worse than the forecast of analysts. Completion of the last trading session of the week will depend on the statistics on consumer confidence index in the U.S. in June (13:55 GMT). We maintain a medium-term negative outlook on the U.S. market.

May 15 of USD Performance

Major stock indexes in Europe do not want to grow on the back of weak economic indicators. The exception is the British index, which yesterday has not changed despite the statement of the head of Bank of England Mark Carney, who said that the greatest risk for growth of the economy is the housing market and introduced measures for tightening control over mortgage lending. Today trade dynamics will depend on the balance of payments and the UK's GDP, as well as the volume of business investment in the country (8:30 GMT). We maintain a medium-term negative outlook for European markets.

Most indexes of the Asia-Pacific region declined due to contradictory statistics from Japan and a slowdown in profits of China's largest corporations in May to 8.9% per annum, which is 0.7% less than the April figure. In Japan, the unemployment rate has fallen by 0.1% to 3.5%, retail sales fell by 0.4%, which is 1.5% better than expected. At the same time, household spending in June fell by 8.0% versus the expected decline of 1.9%. Deterioration of a number of indicators in Japan due to the increase of the sales tax in April by 3% to 8%. The Australian market also fell, despite the significant improvement in iron ore prices that exceeded $ 95 per ton. We maintain a medium-term negative outlook for the Chinese and Australian market, and Japanese indexes may resume growth in case of a devaluation of the yen.

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