American stock indexes showed strong growth yesterday after strongly declined in the previous two sessions after in the UK the majority voted for the country's exit from the EU. As a result, the growth driver was the closure of short positions, buying cheapened stocks, rising oil prices, as well as positive macroeconomic data. US GDP growth for Q1 according to the final report was 1.1%, which is 0.1% more than forecast and the consumer confidence index from the Conference Board rose to 98.0, against the forecast of 93.2. Today, it is worth paying attention to data on personal income and consumer spending in the US (12:30 GMT). Our forecast for the near future remains negative, despite the possible continuation of growth in the near future.
Major European stock markets show growth against the background of the correction after the strong decline of the previous days. Despite this, in the region risks remain elevated due to the result of the referendum in the UK, where decided to leave the EU. Investors are pleased with the data on the index of consumer confidence in Germany, which rose in July to 10.1, which is 0.3 more than the forecast. Tomorrow, the focus will be on the data on GDP growth and business investment in the UK and the consumer price index in the euro area. We forecast that a drop on the European market will continue in the near future, but volatility will remain elevated.
Markets in the Asia-Pacific region restore positions after a strong decline caused by the risks associated with the vote on the UK's membership in the EU. The Japanese market has responded positively to the weakening of the yen, which supported the demand for shares of local export-oriented companies. Traders were disappointed by data on retail sales in Japan which fell by 4.4% in May after falling by 4.7% in April. Tomorrow we should pay attention to the data on the volume of industrial production in Japan in May. We expect continued high levels of volatility and the likelihood of falling at the markets in the region remains high.