WSE: Before opening

Thursday's session on Wall Street brought a slight discounts in the most important indices (about 0.1 percent). Europe presented yesterday poorly, and the decline of the German DAX of nearly 0.9 percent took into account these cosmetically red behavior in the USA. It seems that today's quotations in all markets will be dominated by looking in the direction of Jackson Hole.

Macro calendar today contains important reading of GDP growth in the US, but each report will remain in the shadow of what today will say Yellen, the occurrence of which will also be the most important event of the day in Warsaw. Emerging markets are sensitive to Fed policy and a signal of a possible rate hike in the US as early as mid-September will be nervously perceived on the WSE.

Friday, morning trading on the currency market brings an attempt to stabilize the quotations of PLN after yesterday, surprising, weakened. The polish zloty is valued by the market as follows: PLN 4.3293 per euro, PLN 3.8378 against the US dollar. Yields on domestic debt amounts to 2,684% for 10-year bonds.

There are rumors that PLN fell after the release of preliminary official assumptions for the budget year 2017r., where the primary risk is the assumption of PLN 59.3 billion deficit. An addition to this may be the publication by Moody's, which said that the escalation of the crisis around the Constitutional Tribunal (CT) is negative for Polish rating. The report agency refers to the start of the investigation concerning President of CT.