31.08.2016 - The situation on the markets remains uncertain
American stocks fell slightly on Tuesday. On one hand the optimism in the markets was supported by strong data on consumer confidence in the US in that in August rose to 101.1 against 96.7 in July. On the other hand, traders are waiting for the publication of important statistics on the labor market in August, which will be published on Friday and improvement of which will lead to an increase in the probability of the Fed tightening monetary policy this year, which is negative for the stock markets in the country. Today, the mood of investors will affect the news on change in the number of jobs in the United States from ADP (12:15 GMT) and Chicago PMI (13:45 GMT). Our medium-term outlook for the US stock market remains negative and we expect the beginning of a strong correction in the near future.
European stocks are near the previous close levels on the background of the uncertainty associated with the expectation of important statistics from the US, which will be released on Friday. Today in the UK have been published data on the index of house prices, which grew by 0.6% in August, despite the forecast of decline by 0.1%. Positive for the German market was the strong statistics on retail sales in Germany, which rose by 1.7% in July after falling by 0.6% in June. The dynamics of trading today will also affect news on the consumer price index and unemployment in the euro area (09:00 GMT). Our medium-term outlook for European markets remains negative and we expect a drop in the near future.
Markets in the Asia-Pacific region today showed a positive dynamics. Among the leaders of growth was the Japanese market, which was supported decline of the yen, which was positively displayed on the shares of export-oriented companies. Growth was restrained by data on industrial production in Japan that showed zero growth in July against the expected growth of 0.7%. Tomorrow volatility may rise after the publication of important statistics on the manufacturing PMI in China, Japan and Australia. Our medium-term outlook remains negative, but the growth of Japanese assets may continue in case of further decline in the yen.