Yesterday’s holiday in the US and the lack of quotations on Wall Street causes that this morning in Europe is not going to be particularly exciting. Quiet trading is also seen in Asia.
The contracts on the S&P500 recorded now cosmetic loss. Minimally shifts appear on the currency market, where Eurodollar gaining 0.1 percent. Today’s macro calendar does not contain critical data, so we may assume that in the environment there will be little change until the game will join players from the USA.
On the Warsaw market last four sessions were successful for the WIG20 index. Yesterday’s rise in the absence of Wall Street indicates that the market is optimistic. However, from the point of view of technical analysis, resistance zone located above the level of 1810 points may encouraged to take profits.
Warsaw index since almost half of a year is moving in a trend channel with a horizontal limits set roughly at about 1,700 points from the bottom and 1,800 points from the top. So a really strong impulse is necessary to break the index out this template behavior. Such negative impulse could be unfavorable for the Prime Minister Renzi decision of the Italian referendum on December 4. In turn, the positive would be a classic rally of St. Claus on global stock markets, which, in fact we have not seen in three years.