During the last session in the second week of September 2022 on The Warsaw Stock Exchange we witnessed a strong rebound in the decline in the index of the largest companies, i.e. WIG20 index. This index gained 4.17%, ending Friday’s session at the daily highs. Demand brought the index above the level of 1,500 points. This is a key level from the point of view of a possible continuation of increases.

Gasoline is cheaper

There are clear cuts in gasoline prices at petrol stations in Poland, but they are due to the fact that diesel has become cheaper recently. Last week, the average price of 95 lead-free petrol was at the level of PLN 6.53 per liter and was thus 11 groszy per liter lower than the week before. At the same time, it is worth noting that this is the lowest value since April 2022.

Unfortunately, there are no significant reductions in diesel. It is currently the most expensive fuel in the gas station price list.

Oil price fluctuations

Last week’s crude oil valuation was interesting on the fuel exchanges in New York and London. While in America oil rose, in London it was quite the opposite during Tuesday’s session. West Texas Intermediate Oil Barrel in October deliveries it cost NYMEX in New York $ 88.58, or 1.97 percent. more. However, for Brent barrel at the ICE in London, you had to pay $ 94.97 in deliveries for November.

Such fluctuations are most likely a result of how investors assessed the situation on the markets after agreeing to reduce oil production by 100,000 tonnes. barrels per day in October by the Organization of Petroleum Exporting Countries.

Copper is gaining ground on metal exchanges

Last week we watched the metals exchange in London increase in copper prices. The metal appreciated in response to the weaker valuation of the US dollar. The increases were also supported by declines in stocks of base metals in the world. Copper in 3-month deliveries to the LME was valued 0.5 percent higher, or USD 7,690 per ton. Meanwhile, on the Comex exchange, a pound of copper was traded at $ 3.4730, or 1.74 percent. more.

A slight increase in the main interest rates in Poland

During the meeting in September this year, the Monetary Policy Council decided, in line with the expectations of economists, to raise the main interest rates of the National Bank of Poland by 25 percentage points. This was also the market consensus. As a result of the increase, the NBP reference rate is 6.75 percent. This should help contain inflation as well as increase the strength of the Polish zloty.

Bitcoin at $ 10,000 this winter?

Filbfilb analyst from Decentrader commented on the future Bitcoin valuation. In his opinion, this year’s winter will be special, due to the energy crisis that is threatening Europe. It may affect the valuation of cryptocurrencies, including the energy-intensive Bitcoin. If it turns out that winter will be extremely cold, BTC prices may drop by as much as 50%. against currently recorded levels. This would mean that we will pay $ 10,000 for 1 Bitcoin in winter.

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