• WSE: Before opening

Market news

7 September 2016

WSE: Before opening

The yesterday's trading on Wall Street took place in the shadow of another weak reading of ISM index. This time a negative surprise comes from the ISM index for service sector, which reading was clearly worse than forecasts. As a result, the first halves of the session three key US averages were on cons and at the closing gained value. Broad the S&P 500 rose 0.3 percent and the Nasdaq Composite set a new all-time record in terms of closing levels.

Weak ISM readings with worse-than-expected labor market data for August will reduce the fear of investors for the September decision about interest rate rises.

Increases in the US should be sufficient for a positive opening session in Europe.

The Warsaw market have to deal today with two factors. The first one - pro-growth - weak data in the US and the likely lack of increases in the price of credit by the Fed favors bulls in emerging markets. The second element is the fluctuation of the index of the largest companies in the defeat of the level of 1,800 points.

Wednesday's morning trading on the currency market brings further recovery in valuations of the Polish zloty. Polish currency is quoted as follows: PLN 4.3308 per euro, PLN 3.8478 against the US dollar. Yields on domestic debt amounts to 2,811% for 10-year bonds.

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