Friday's trading on Wall Street ended in solidarity declines in major indices, which lost 0.3 to 0.6 percent. On Friday, Europe responded not only to the weakness of Wall Street.
The main element of lowering the share prices of CAC and DAX indexes was the strength of the euro against the dollar, and in this area there is no change. The dollar remains weak against the yen and euro. It does not help also in Asia, where the Nikkei in response to the strength of the yen lost 3,3 percent today. In short, at the threshold of a new week the atmosphere is not better than at the end of the previous one.
Investors' attention should shift to always published at the beginning of the month readings of PMI indices in the euro zone. In the next hours will be valid until the reading of the US ISM also for the industry. The London market is closed today, Chinese stock exchanges are also off. Therefore on the Warsaw Stock Exchange a low liquidity and low turnover are expected today.
Starting today May on core markets is considered to be a weak period for stocks. This favors the extension of the April correction, which may result in a decline in WIG20 in area of ,1800 points. The market had also recently sensitivity to the condition of the zloty (PLN), which will be an important element in the balance of power in the course of the month starting today.