Wednesday's session on the New York stock exchanges did not bring significant changes. At the end of the day the Dow Jones Industrial fell 0.18 percent, Nasdaq Comp. increased by 0.36 percent and the S&P 500 fell by 0.06 percent.

Recent sessions both in the US and in Europe were marked by increased volatility. High volatility is the effect of speculation on the future of monetary policy in the US. Trading of futures contracts shows that the likelihood of increases in the next week Fed meeting valued by traders is 20 percent.

Today's session promises to be far more interesting than the rest of this week, at least from the information point of view. In the macro calendar we will find two decisions of the central banks: of Switzerland and the United Kingdom and significant US data on retail sales and industrial production.

In the case of central banks should not expect any significant movements and only tons of messages will be valid.

The behavior of the markets in the morning does not indicate any breakthrough.

In Asia negatively stand out, falling by more than 1%, Nikkei beyond which dominate green colour. There is a lack of trade in China, where, because of public holidays, today and tomorrow exchanges do not work.

On the Warsaw market we should be aware of expiring contracts on Friday, which may have significant impact on the market. Thus closing the week can be misleading due to the settlement of the September series of futures contracts.