There are big drops on the Warsaw Stock Exchange. The markets are restless again. There is more and more talk about the impending global crisis. The Polish economy is waiting for Thursday’s MPC decision.
The US stock market managed to close Tuesday’s session with increases in the S&P 500 (+0.16%) and Nasdaq Composite (+1.75%), but the Dow Jones industrial average fell (-0.42%). The Canadian S & P / TSX Composite (-1.02%) and the Brazilian Bovespa (-0.32%) reached their new cyclical lows yesterday.
In Asia and Oceania equity markets this morning weakness prevailed. The Taiwanese TAIEX lost the most (-2.53%), which reached the lowest level since the end of 2020. The Malaysian KLCI was the lowest in over 2 years (-1.17%).
Declines on the Warsaw Stock Exchange
After yesterday’s strong declines, this morning the main stock market indices in Europe rebounded (DAX +1.51%, CAC 40 +1.43% around 9:30). WIG-20 fell slightly below yesterday’s 1.5-year minimum, but then tried to increase (+0.55 percent. Approx. 9:30).
WIG-Górnictwo was still very weak, as it fell by more than 3.5 percent at the beginning of Wednesday’s session, reaching the lowest level since November 2020. Over 2.5 percent. KGHM, JSW and Bogdanka shares went down.
The yield on US 10-year treasury bonds remained below 3% this morning. After yesterday’s collapse by approx. 10 percent. crude oil prices rebounded 1.5-2 percent today to the lowest level in more than 1.5 months. Copper and silver prices hit their new cyclical lows today on COMEX.
The Zloty exchange rate has stabilised, but is low
After yesterday’s slump to the lowest level since 2002, this morning the EUR / USD exchange rate remained stable (-0.04%). The euro exchange rate against the Swiss franc remained below parity and this morning was the lowest since January 2015.
The USD / PLN exchange rate was this morning (4.6419, +0.42%) on the step of reaching the all-time high from October 2000 (4.732). The EUR / PLN exchange rate increased by 0.3% by 9:10.
Bitcoin’s exchange rate against the USD is still hovering around the level of USD 20,000 (important, because it is a potential support, the peak of the bull market in December 2017). After yesterday’s return above USD 20,000, this morning the BTC / USD fell by 1.07%.