There has been no such situation on exchange rates for 33 years

There has been no such situation on exchange rates for 33 years

Extremely interesting things are happening on the markets. Currency pairs are breaking records, but the Warsaw Stock Exchange, where the star is WIG-40, is also worth attention.

This morning, S&P 500 contracts were still near their maximum from September 15 this year. Yesterday, the Nasdaq 1000 reached its highest level since January 2022, and the Brazilian Bovespa was at its highest level since July 2021. There was no dominant trend on the stock exchanges of Asia and Oceania on Thursday. By 1.41 percent the Indonesian JCI increased, Hang Seng gained 0.99%, while slightly over 0.5%. declines were recorded by the Australian All Ordinaries (-0.6%) and the Thai SET Index (-0.52%).

Interesting on the stock exchanges. The star of WIG-40

At the beginning of Thursday’s quotations on stock markets in Europe, there was also no clear trend (German DAX +0.07%, French CAC 40 +0.19% around 10:20).

mWIG-40 today reached its highest level since January last year. (+0.78% approx. 10:26). At the beginning of Thursday’s quotations, the other main WSE indices also increased (WIG +0.29%, WIG-20 +0.17%, sWIG-80 +0.13% around 10:28).

Among the GPW sector indices, WIG-Budownictwo today reached its highest level since June 2008 (+0.81% around 10:30), while WIG-Odzież was the highest since February last year. (+0.34% approx. 10:30). At the other extreme was WIG-Leki, which was at its lowest level since June 2022 on Thursday morning.

Among the mWIG 40 components, the share prices of Bank Handlowy, ING Bank Śląski and Buximex reached their new cyclical highs today, while the share prices of Bumech and Synhaverse were the lowest in at least a year. Among the sWIG 80 components, the share prices of Decora, Newag and Voxel reached their new cyclical highs today, while the share price of Captor Therapeutics was the lowest in history.

The yield on 10-year US Treasury bonds reached its 2-month low (4.3634%) during Wednesday’s trading, reaching its lowest level since September 20 this year, but ended the day with a slight increase (4.4081%). Today in the USA will be celebrated Thanksgiving. Today approx. 9:25 the yield on 10-year German government bonds was at 2.57%, slightly above the lowest levels achieved in the last few days since the beginning of September this year. levels. The yield of the Polish government’s 10-year bonds was this morning at approx. 9:30 slightly above its lows from August 2022 (5.322%) and July this year. (5.296%) and amounted to 5.53%.

Exchange rates. This has not been the case for 33 years

The EUR/USD rate, which on Tuesday reached its highest since August 11 this year. level of USD 1.09652, and then corrected to the level of USD 1.08526, this morning it tried to resume the trend that started on October 3 this year. increase (+0.33% to USD 1.0923 around 9:41 am). The USD/JPY rate in October last year reached its highest level since 1990 (151,944 JPY). Since then, it has not managed to break this 33-year high upwards, but in October and November this year. the USD/JPY exchange rate reached a level exceeding 151.7 JPY. Yesterday, the USD/JPY rate increased by 0.86%, and this morning around 9:40 slightly corrected this increase (-0.29%).

The exchange rate of the Polish zloty against the euro was quite stable this morning (EUR/PLN +0.03%). The November move of the EUR/PLN exchange rate down to the lowest level since March 2020 can be interpreted as a downward break of the “head and shoulders” formation that has been taking place since March 2020. Its “neck line” is shaped by the lows established in June and August 2020 and August 2023. If this interpretation were correct, it would suggest a medium-term (calculated in months rather than years) decline in the EUR/PLN exchange rate by the size of this “head and shoulders” formation ” from the period March 2020 – slightly less than PLN 4.00. USD/PLN fell by 0.24%. approx. 10:25.

On commodity markets by approx. 1.5%. it was cheaper today around 10:50 crude oil (WTI -1.45%, Brent -1.51% around 10:50). Natural gas contracts also fell slightly this morning (-0.59% 10:55). Apart from platinum (-0.29%), prices increased slightly today around 10:55 contracts for gold (+0.11%), silver (0.2%) and palladium (+0.13%). Slightly more movement – ​​+0.65%. – was observed on the COMEX on copper contracts.

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