| Dollar? No thanks |
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The first day of the week has not brought any changes in the stock market. It is true that after a good opened slightly and brushed up on Friday's closing line, but quickly returned to form and even grow in the morning 1.3 percent. The initial weakness that resulted from the relatively limited turnover of the whole session had no significance. The positive atmosphere was the result of the optimism prevailing in Europe. Indexes all gained European markets with the exception of the Latvian RIGS, for which proved to be important in the local parliament debate on budget cuts and the financial rescue of the Baltic republics. During the day there were no macro-and, which is why European markets after the initial persisted until the end of a narrow consolidation. But this is not a manifestation of a sustainable trend, but rather a lull before the storm, as in the second part of the week the market will come quarterly reports to U.S. banks, whose role will not be overestimated. This will also be information about sales and industrial production in the U.S., so you can safely count on a larger scale fluctuations. Today, these movements do not yet see, because calendar is empty and only the German ZEW sentiment index may have limited impact on the stock exchange. Observing the individual indices on the WSE can be concluded that our market is only so small and medium-sized companies, could "show off" yesterday a total turnover of 130 million zlotys, or less than 10 percent. the entire market. It is worth recalling that during the consolidation or continuing increases is not a problem, but if it has such a liquidity adjustment is deadly for the price of shares and holding them to investors. On the other hand it was a very successful day for the holders of the shares. He was the best company in dealing with and reached an altitude of 161.20 gold, gold is exactly 99 more than during the February hole. Among the biggest come out well too. Although yesterday ended 1.2 percent boost., This is a very modest result, looking at an adjacent parquet. Czech PX50 gained 3.15 percent. And the Hungarian BUX 2.6 percent. We have over a month while staying in a consolidation between 2030 pts., And 2300 points. and though the daily fluctuation band narrows down to, which should mean the advent of breaking, it is difficult to expect today. Another calm and stagnation is more likely. Yesterday's session in the United States ended with little symbolic increases turnover, which caused the Columbus holiday. Occasionally, a much more important than the completion of a course of the session, namely the market's reaction to the information that central banks in the second quarter of 2009 increased its foreign exchange reserves by the amount of 413 billion dollars, with as much as 63 percent. coincided with the euro and yen. Participation in the new cash dollar dropped to just 37 percent., The least ever. This error resulted in the S & P500 to fall to 0.5 percent., But the bulls by the end of the day managed to pull indexes. Once such an event may be disregarded, but it is already strong and particulars of the case for further weakening of the dollar which is weaker them the better for the USA. |
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