Weekly data from the US today were overshadowed by the new measures taken by the ECB. Nevertheless, they fit into the picture of the different monetary policies on both sides of the Atlantic. It turns out that the labor market in the US surprised positively, which may mean another rate hike by Janet Yellen. At the same time, Mario Draghi presents new easing action. Markets beginning to pay attention to one another unexpected new round of financing banks within TLTRO.
Mario Draghi signaled that there not will be more rate cuts, which means that the ECB sees its possible negative effects. Now attention is move from the level of interest rates to other unconventional measures. At these words responds particularly the foreign exchange market, where the euro is strengthened. On the equity markets it reflects with the slightly increases. Investors recognize that there are some limits in monetary policy, while in January Mario Draghi said that there is no limit.
In the course of the head of the ECB we had roller-coaster on markets. The large variability particularly in on currency markets and equity markets gains have been brutally ended.
The main characteristic of today's trading on the WSE is low activity, despite the important events around the actions of the ECB. In the segment of blue chips we only achieved a low level of turnover at PLN 370 mln. In addition, the deterioration of the mood lightly dismissed index from the psychological level of 1,900 points.