TeleTrade - Analytics


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    08.03.2016 07:29 Before opening

    Yesterday's session displayed very clearly different behaviors of stronger stock markets of developing countries (including WSE) indices against weaker stock markets of developed countries. Today, however, the advantage of the former ones may deteriorate due to weaker economic data from China on trade and the lackluster morning performance of commodities. Similarly, currencies of countries associated with the exports of raw materials, such as Australia, yesterday even gained in value, and today in the morning already corrected. At the moment, it looks like a correction after a strong movement, which in recent days concerned the market for raw materials and all related assets. The correction may reverse during the session, but in the morning it seems that the current sentiment indicates of the former to persist.

    Regarding important upcoming events, investors seem to be waiting for the ECB meeting, the BoJ and, most importantly, of the Federal Reserve. From the point of view of the Warsaw Stock Exchange, Thursday's ECB decision is seen mainly in terms of possible risks. This is due to the fact that the Polish market in the past has not shown positive responses to the statements by Mario Draghi. More chances that positive developments will from Fed, which has a more significant impact on the strength of emerging markets.

    Domestic market is expected to retain yesterday's behavioral pattern, with the very high closing being in favor of the scenario of today's attack on the level of 1900 points. That can not be ruled out, and the technical analysis indicators seem encouraging. Prevailing morning mood, however, indicates that bullish attitude may not be powerful enough so as to break through the resistance level.

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