The world of finance will wait for the decisions of the most important central banks. The key macro data will be the reading of CPI inflation from the United States. We will be interested in the market reaction to the verdict of the Fitch agency and the results of energy companies in Poland.
Monday, September 8
The zloty market and Polish tax bonds may respond to the Friday update of Poland's credit rating at the Fitch agency. We will know this verdict on Friday evening, so the market will be able to react only after the weekend. There is a non -zero chance that Fitch will reduce the perspective of Polish rating.
At 8:00, Germany will present July statistics of industrial production and commercial balance. It is worth remembering that German imports are largely a reflection of Polish exports, because our western neighbor is the largest recipients of goods sent outside Poland.
In addition, at 21:00 Americans I will show July debt results from a consumer loan.
Semi -annual reports will show Enea and Bogdanka.
Tuesday, September 9
There are no significant macroeconomic publications in the day program. However, connoisseurs will probably look at the August statistics of Hungarian CPI inflation, which has not been as high as for the last few years for some time.
In addition, in the timetable we have a routine meeting of finance ministers of the euro area (the so -called Eurogroup) and the public speech of the boss of the Bundesbank (13:30) and the president of the Swiss National Bank (13:50).
Semi -annual reports will show PGE, Kogeneration and Unimot.
Wednesday, September 10
Data from China will come at night. At 3:30 we will know the August statistics of Chinese inflation PPI and CPI. The first one for several years records negative dynamics on an annual scale, and the second oscillates around zero. Theoretically, we should also see the results of the Chinese credit and money supply, but these data usually appear with a few -day delay.
Norwegians (8:00) and the Czechs (9:00) will also show inflation statistics. Both still have a problem with increased inflation – in Norway it still exceeds 3%, which is quite a high result for a developed country. In addition, the results of July industrial production will be showed by the Spaniards, Turks, Slovaks and Italians. Data on the August producer inflation (PPI) in the USA will come from behind the Atlantic. It is traditionally at 14:30.
Semi -annual reports will show Erbud, Onde and Poltreg.
Thursday, September 11
On the anniversary of the attacks on the WTC and Pentagon, Americans will present the August reading of CPI inflation. This is the last such important macroeconomic publication before the September meeting of the Federal Open Market Committee. It is doubtful, however, that even the result higher than the market consensus stop FOMC from the 25-point reduction of the federal fund's foot.
In turn, at 14:15 the decision will be announced by the Presidents of the European Central Bank. EBC has already completed the monetary policy loosening cycle and economists expect to keep the deposit foot unchanged at 2.00%. A press conference of President Christine Lagarde is planned for 14:45.
For dinner we will receive the August results of the US Federal Budget, where, just like in Poland, a permanent fiscal deficit has been maintained for decades.
After the session, Adobe Systems will give the quarter results.
On the WSE, semi -annual reports will show, among others Grupa Azoty, Intercars, Police, Puławy and Seco Group.
Friday, September 12
At 6:30 the publication of the final results of Japanese industrial production for July is planned. A decrease in both monthly and annual relationships is expected. At 8:00, the British will show the reading of the monthly GDP (in July), and Germany will present the final results of CPI inflation for August. Three quarters later, the French will do it, and an hour later the Spaniards. However, these are no longer publications so closely followed by investors, because inflation statistics in the largest euro area countries stabilized at 1-3%.
At 14:00 the publication of the July balance of Poland's payment is planned. This is data that usually does not flow beyond the narrow circle of economists and currency dealers, but can have a significant impact on the golden ratings within the average date.
At 16:00 we will see the final reading of the Michigan University index for September. Preliminary data indicated the intensification of American inflation expectations. And these are both short – long -term expectations.
Semi -annual reports will publish, among others Develia, Lena, Newag and Wasko.
