Gold and debt market on Thursday will be influenced by information from the meeting of the ECB and the debt auction.
According to unofficial information, Bloomberg shows that the Executive Board of the European Central Bank on Thursday, may propose to the Governing Council of the ECB asset purchase program totaling 50 billion euros a month by the end of 2016.
The Ministry of Finance will offer at auction on Thursday, OK0717 and PS0420 bonds for a total of 5.0-7.0 billion zł.
“Therefore, according to analysts assess that at the meeting of the ECB interest rates will be kept unchanged, this day will be dominated by waiting for the press conference of the bank, which probably will be announced QE program. Risk for quotations remain, however, the details of quantitative easing and it is from them will depend on the market reaction “- Millennium Bank analysts wrote in a morning note.
“We believe, however, that in the baseline scenario, ie. Buying a wide range of assets of about 600 billion, we can witness the rebound in the still existing in the medium term downward trend Eurodollar. Some investors may indeed decide to implement the profits made just for wave discounting such a move by the ECB. In our opinion, the launch QE should also support the zloty against the euro, but the change in the EUR / PLN should be limited proximity 4.2550 level “- they added.
Important for the debt market, while remaining in the shadow of the ECB, the auction will be on the domestic debt market.
“We believe that it is possible Placing the entire offer by rates close to the interbank market valuations. We expect profitability OK0717 and PS0420 respectively around 1.68 per cent. And 1.92 per cent.” – Write analysts Pekao SA.
Wednesday Wednesday Thursday
9.10 16.10 8.55
EUR / PLN 4.2960 4.2969 4.3219
USD / PLN 3.7110 3.6899 3.7377
EUR / USD 1.1575 1.1645 1.1564
OK0716 1.62 1.64 1.62
PS0719 1.92 1.90 1.89
DS0725 2.29 2.28 2.30
(PAP)
The map / Ace /
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