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Markets are under pressure

Jul 28 2017, 07:09 PM (+06) | Fortfs.com

Yesterday American markets showed a negative dynamics. Technological and transport sectors led the decline. There is an opinion that the pressure came from Amazon earnings report, the profit of the company is declining.

Meanwhile, yesterday's statistics turned out to be controversial. Orders for durable goods grew by 6.5%, the fastest pace in three years. Although the basic indicator did not reach the forecast. Claims for unemployment benefits were higher than expected. Treasury yield has undergone little change, but the dollar has grown a little stronger and bounced from annual lows. The S & P500 index today is trading in the red, which put pressure on all risky assets in Asia.

Asian markets are traded in the red zone. Nikkei fell after American technology data. There is no support from the yen, as there is a demand for the funding currency amid alarming share dynamics.

In addition, today a large block of Japan economic data was published. The dynamics of inflation remained at the same level for the third month in a row, in June it grew by 0.4% y / y. The base indicator showed similar values. This is an argument in favor of preserving the ultra-soft monetary policy of the Japanese Central Bank. Unemployment fell to 2.8%, which should spur the growth of wages, according to investors.

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