US stock indexes showed gains during yesterday's trading session amid improving investor expectations regarding the situation on the Chinese stock market. It is worth noting that the service PMI rose to 55.2, which is 0.1 better than expected, and the consumer confidence index from the Conference Board fell to 90.9 against the forecast of 100.1. Today, investors are waiting for the Fed's statement on monetary policy (18:00 GMT). In case of hints at raising interest rates in September, the indexes in the US will fall. We keep medium-term positive outlook, but expect the decline in the near future.
European stocks showed moderate growth due to the expectation of today's publication of the Fed's statement on monetary policy, which will lead to increased volatility on the market. Consumer confidence in Germany remained at 10.1, the balance of retail sales in the UK dropped to 21, that is 9 worse than expected and the number of permits issued for mortgage lending in Britain rose in June by 2 thousand to 67 thousand. Today and tomorrow is expected high volatility on the markets in connection with the publication of a large number of important news. We expect growth in the major European markets in the medium term.
Most stock markets Asia-Pacific region showed a positive trend against the background of optimism on the Chinese stock market, after the statements of authorities' support for the stock indexes. At the same time, demand for defensive activity as the yen remains elevated due to the high volatility on the Chinese market. Retail sales growth in Japan slowed to 0.9% in June against 3.0% in the previous period. Tomorrow we should pay attention to the data on industrial production in Japan and the speech of the Reserve Bank of Australia. We maintain a positive medium-term outlook.