This entry was posted on Tuesday, February 5th, 2008 at 10:42 and is filed under News . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Our foreign exchange market began Monday from weakening. This was apparently the transfer market sentiment with the EUR / USD, which in turn reacted to the strengthening of the yen decline, and rumors of softening its position by the ECB. But in our market (and other markets in the region) there was not much willingness to sell off the local currency
They are still relatively strong, despite the fact that gold at the end of the day he lost against the euro and the dollar. This is not always such a weakness, that would signal the exodus of foreign capital. It still looks as if the players waited patiently at the end of the world's turmoil, to try to quickly strengthen our currency. Today, however, we will continue to follow the rate of EUR / USD.
Stock Exchange went up Monday morning by the fruit of Asian and European stock exchanges. Indexes fall after the opening of about 3 percent. Then the market imitate what has happened in Euroland, which, in turn, stared at the Japanese yen. Afternoon strengthen the European exchanges (the yen began to finally corrected) for some time had no effect on our market. At one point the index fell nearly 4 percent, and MIDWIG even harder.
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However, it was obvious that if the yen market correction will continue to reduce our market and scale of the fall. And so it finally happened. An hour before the start of the session in the U.S., the indices began in Euroland clearly reflected, bulls camp pressed the gas pedal and our indexes also (reluctantly) moved to the north. We finished the session by a decline of "only" 2 percent, but the technical situation has significantly deteriorated by that. Turnover was high, which is not beneficial for the market, but does not prejudge anything.
Yesterday's end of session in the U.S. today should not have the slightest importance to the Stock Exchange. Still everyone will be staring in Asia, and there began after the correction. Markets in Euroland are also already technically sold out, so the index would move there to the top. In addition, everyone will be waiting for the rebound in the U.S., and this will increase demand. I can not imagine that the funds have not led to the Stock Exchange today on a strong rebound. Yet much depends on them to calm the mood. If the increase was small (less than 2 percent) is ill-rokowało to market. One thing is certain and the need to remember - we now have to deal with the market day-traders speculating in a very short period (during the session, or at most a few sessions). In any case this is not a market investor. He should stand aside.
