Raw material prices are falling. Silver hasn’t been this cheap in a month

After Monday’s upward rebound, today in the morning futures for the main US stock indices fell again (S&P 500 -0.34 percent around 9:55). In the stock markets of Asia and Oceania, the downward trend prevailed today, although it was resisted by the Japanese Nikkei 225 (+0.38%). Tuesday started with slight declines in indices in Europe (DAX -0.15 percent, CAC 40 -0.01 percent around 9:55 am).

The downward trend was also dominant on the WSE this morning (WIG-20 -0.85 percent around 10:10). Apart from WIG-Automotive, all sector indices of the Warsaw Stock Exchange fell. Apart from PZU shares, the shares of all WIG 20 components fell today in the morning. Among the components of mWIG 40, the share price of Tauron Polska Energia reached its highest level since October 2021. As for the shares included in the sWIG 80, the prices of Fabryka Farb i Lakierów Śnieżka, Selena FM and Medicalgorithmics reached their new cyclical highs today.

The yield of 10-year US treasury bonds reached the lowest level in a week today in the morning (4.014 percent around 10:00). The profitability of 10-year Polish government bonds also fell (5.52%). The yield on 10-year Russian government bonds was the highest since April 2020.

The EUR/AUD exchange rate reached its October 2020 high this morning, and even briefly surpassed it to reach its highest level since May 2020. The euro against the New Zealand dollar was also at its highest since 2020 today. The euro, on the other hand, weakened slightly today around 9:55 against the US dollar (EUR/USD -0.23%). The USD exchange rate against the Japanese yen was the highest for three sessions (+0.44 percent at around 9:55).

After two days of strengthening, the Polish zloty weakened this morning (EUR/PLN +0.31 percent, USD/PLN +0.53 percent around 10:00). Bitcoin’s exchange rate against the US dollar, which on Monday reached its lowest level since June 21, but later recovered, was stable this morning (-0.05 percent around 10:00).

Crude oil prices fell for the second day in a row this morning (WTI -0.84%, Brent -0.84% ​​around 9:40 am). The price of natural gas contracts on NYMEX corrected yesterday’s strong increase this morning (-0.51 percent around 9:40). Metals fell on Tuesday morning (gold -0.14 percent, silver -0.17 percent, platinum -0.85 percent, palladium -0.64 percent, copper -1.04 percent). Silver was the cheapest in almost a month. Copper futures fell to their lowest level in a week. Wheat, soybean, sugar and cotton contracts also fell this morning.