Last week, the WIG20 behaved "in a grid", struggling to find a clear direction.
>> Also see: Dollar rate before a strong move? Expert issued forecasts for USD/PLN and EUR/USD for the coming days. "It is difficult to expect a lasting drop below 3.60"
Ultimately, however, the Polish blue‑chip index finished the week with over 2% growth, despite tensions related to bond sell‑offs in the global market.
Investors on Wall Street also had a green finish to the week.
The S&P 500 ended trading up 0.37%, while the Nasdaq gained 0.42%.
Support for investors came from a relaxation in the debt market, where we observed a decline in yields from this year’s highs.
Another unsettling signal came from the latest reading of the University of Michigan index measuring consumer sentiment in the USA.
Oil falls below $100
In May, the value of this indicator reached new lows, which should be linked to persistently high fuel prices that increasingly affect long‑term inflation expectations.
Weekend negotiations on the US–Iran line did not ultimately end with the signing of an agreement, yet the market positively views the mere fact of their continuation.
At the time of writing, Brent crude is falling by more than 5% and is priced below $100 per barrel.
In a Sunday post on Truth Social, President Trump declared that the blockade of Iranian ports would be maintained until the finalization of the deal, and his representatives should not rush to conclude an agreement.
Recent statements by Marco Rubio also add to the matter, indicating that serious talks about Iran’s nuclear policy may only begin after the lifting of blockades in the Strait of Hormuz.
These statements suggest that the White House administration would likely be ready to accept a preliminary agreement with Iran that does not immediately resolve the enriched uranium issue. This topic will undoubtedly remain at the center of attention in the coming days—many indications point to the end of May potentially bringing significant resolutions. At the time of writing, Asian markets are dominated by gains.
KOSPI rises about 0.5%, Indian Sensex about 1.3%, and Japanese Nikkei over 3%
The Korean KOSPI rises about 0.5%, the Indian Sensex about 1.3%, and the Japanese Nikkei over 3%. Futures on European indices suggest an opening to the upside. We expect a similar scenario on the Warsaw Stock Exchange, though market activity will likely be limited today due to a US holiday.
