{"id":30145,"date":"2022-07-25T13:37:22","date_gmt":"2022-07-25T13:37:22","guid":{"rendered":"https:\/\/forexrev.pl\/?p=30145"},"modified":"2022-07-25T14:22:03","modified_gmt":"2022-07-25T14:22:03","slug":"pobudka-w-europie-i-skutki-uboczne-silnego-dolara-makroprzeglad-4-4-cz-ii-lipiec","status":"publish","type":"post","link":"https:\/\/forexrev.com\/pl\/pobudka-w-europie-i-skutki-uboczne-silnego-dolara-makroprzeglad-4-4-cz-ii-lipiec\/","title":{"rendered":"Pobudka w Europie i skutki uboczne silnego dolara. MakroPrzegl\u0105d #4\/4 cz. II Lipiec"},"content":{"rendered":"<p><strong>Od pocz\u0105tku roku, po\u015bpiech Rezerwy Federalnej w zwalczaniu inflacji doprowadzi\u0142 do umocnienia dolara, kt\u00f3ry w ko\u0144cu sta\u0142 si\u0119 problemem dla ameryka\u0144skich sp\u00f3\u0142ek. Dystans mi\u0119dzy bankami centralnymi powoli zaczyna si\u0119 jednak zmniejsza\u0107, wraz z pierwsz\u0105 od 11 lat, podwy\u017ck\u0105 st\u00f3p procentowych w Europie.<\/strong><\/p>\n<h2>Rynek walutowy<\/h2>\n<p><img decoding=\"async\" class=\"size-full wp-image-30039 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/FX_HEAD1.png\" alt=\"-\" width=\"1024\" height=\"149\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/FX_HEAD1.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/FX_HEAD1-300x44.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/FX_HEAD1-768x112.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2>FED i dolar ameryka\u0144ski<img decoding=\"async\" class=\"size-full wp-image-29981 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/dolar.png\" alt=\"-\" width=\"1024\" height=\"169\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/dolar.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/dolar-300x50.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/dolar-768x127.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<p>Prognoza:<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Jastrz\u0119bia<\/strong><\/span><img decoding=\"async\" class=\"size-full wp-image-30159 alignleft\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/US_1copy.png\" alt=\"forex dolar\" width=\"724\" height=\"119\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/US_1copy.png 724w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/US_1copy-300x49.png 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/p>\n<ul>\n<li><strong>Os\u0142abienie rynku nieruchomo\u015bci<\/strong><\/li>\n<li><strong>Przewidywany wzrost stopy bezrobocia<\/strong> &#8211; wed\u0142ug niekt\u00f3rych szacunk\u00f3w, do okolic 5%<\/li>\n<li><strong>Zmniejszenie konkurencyjno\u015bci ameryka\u0144skich przedsi\u0119biorstw ze wzgl\u0119du na silny dolar<\/strong><\/li>\n<\/ul>\n<p>Po decyzji Europejskiego Banku Centralnego z ubieg\u0142ego tygodnia g\u0142\u00f3wnym tematem na rynkach znowu staje si\u0119 dolar. W \u015brod\u0119 FED og\u0142osi kolejn\u0105 podwy\u017ck\u0119 st\u00f3p procentowych i aktualnie, najbardziej prawdopodobny wzrost to 75 punkt\u00f3w bazowych, do poziomu 2.5%.<\/p>\n<div>\n<table title=\"\" border=\"1\" summary=\"\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>PKB YoY<\/strong><\/td>\n<td><strong>PKB QoQ<\/strong><\/td>\n<td><strong>Stopa procentowa<\/strong><\/td>\n<td><strong>Inflacja<\/strong><\/td>\n<td><strong>Stopa bezrobocia<\/strong><\/td>\n<\/tr>\n<tr>\n<td>3.5%<\/td>\n<td><span style=\"color: #333333;\">-1.6%\u00a0<\/span><\/td>\n<td><span style=\"color: #333333;\">1.75%\u00a0<\/span><\/td>\n<td><span style=\"color: #333333;\">9.1%<\/span><\/td>\n<td>3.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div id=\"attachment_29996\" style=\"width: 659px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/USinflacjastopy.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-29996\" class=\"size-full wp-image-29996\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/USinflacjastopy.png\" alt=\"dolar inflacja usa stopy procentowe\" width=\"649\" height=\"315\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USinflacjastopy.png 649w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USinflacjastopy-300x146.png 300w\" sizes=\"(max-width: 649px) 100vw, 649px\" \/><\/a><p id=\"caption-attachment-29996\" class=\"wp-caption-text\">Inflacja w Stanach Zjednoczonych (niebieski) i stopy procentowe na przestrzeni ostatnich 12 miesi\u0119cy.<\/p><\/div>\n<h2>EBC i euro<\/h2>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-29983\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/euro.png\" alt=\"-\" width=\"1024\" height=\"153\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/euro.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/euro-300x45.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/euro-768x115.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>Prognoza:<\/p>\n<p><span style=\"color: #ff6600;\"><strong>Umiarkowanie jastrz\u0119bia<\/strong><\/span><\/p>\n<p>G\u0142\u00f3wne problemy:<img decoding=\"async\" class=\"size-full wp-image-30158 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/EU_Copy1.png\" alt=\"euro forex\" width=\"724\" height=\"210\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/EU_Copy1.png 724w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/EU_Copy1-300x87.png 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/p>\n<p>Tak jak oczekiwano, <strong>EBC podwy\u017cszy\u0142 stopy procentowe po raz pierwszy od 11 lat<\/strong>. Zaskoczeniem by\u0142a wysoko\u015b\u0107 podwy\u017cki, poniewa\u017c <strong>bank zdecydowa\u0142 si\u0119 na 50, zamiast prognozowanych przez rynek 25 punkt\u00f3w bazowych<\/strong>. Tym samym,<strong> stopa refinansowa wzros\u0142a do 0.5% (wcze\u015bniej 0%), a depozytowa &#8211; do 0% (wcze\u015bniej -0.5%).<\/strong><\/p>\n<div>\n<table style=\"height: 119px;\" title=\"\" border=\"1\" summary=\"\" width=\"516\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>PKB YoY<\/strong><\/td>\n<td><strong>PKB QoQ<\/strong><\/td>\n<td><strong>Stopa procentowa<\/strong><\/td>\n<td><strong>Inflacja<\/strong><\/td>\n<td><strong>Stopa bezrobocia<\/strong><\/td>\n<\/tr>\n<tr>\n<td>5.4%<\/td>\n<td>0.6%<\/td>\n<td><span style=\"color: #008000;\">0.50%<\/span><\/td>\n<td>8.6%<\/td>\n<td>6.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><img decoding=\"async\" class=\"size-full wp-image-30154 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/EU_interestrate.png\" alt=\"strefa euro stopy procentowe\" width=\"788\" height=\"381\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/EU_interestrate.png 788w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/EU_interestrate-300x145.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/EU_interestrate-768x371.png 768w\" sizes=\"(max-width: 788px) 100vw, 788px\" \/><\/p>\n<\/div>\n<h2>BOE i funt brytyjski<\/h2>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-29990\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/funt.png\" alt=\"-\" width=\"1024\" height=\"159\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/funt.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/funt-300x47.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/funt-768x119.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>Prognoza:<\/p>\n<p><span style=\"color: #ff6600;\"><strong>Umiarkowanie jastrz\u0119bia <span style=\"color: #000000;\">(przewidywana podwy\u017cka o 50pb)<\/span><\/strong><\/span><\/p>\n<p>G\u0142\u00f3wne problemy:<\/p>\n<ul>\n<li><strong>Wysoka inflacja<\/strong> &#8211; 9.4%<\/li>\n<\/ul>\n<p><strong>Przewidywana podwy\u017cka w Wielkiej Brytanii to oczywi\u015bcie 50 punkt\u00f3w bazowych<\/strong>, jednak do\u015b\u0107 du\u017co mo\u017ce zale\u017ce\u0107 od decyzji FED-u. <strong>Kolejny wzrost o 75 pb w USA wywo\u0142uje obawy o s\u0142abego funta<\/strong>, kt\u00f3re, teoretycznie mog\u0142yby zwi\u0119kszy\u0107 prawdopodobie\u0144stwo bardziej agresywnego ruchu ze strony BoE.<\/p>\n<table style=\"height: 119px;\" title=\"\" border=\"1\" summary=\"\" width=\"516\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>PKB YoY<\/strong><\/td>\n<td><strong>PKB QoQ<\/strong><\/td>\n<td><strong>Stopa procentowa<\/strong><\/td>\n<td><strong>Inflacja<\/strong><\/td>\n<td><strong>Stopa bezrobocia<\/strong><\/td>\n<\/tr>\n<tr>\n<td>8.7%<\/td>\n<td>0.8%<\/td>\n<td>1.25%<\/td>\n<td><span style=\"color: #ff0000;\">9.4%<\/span><\/td>\n<td>3.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/UK_inflation-1.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"size-full wp-image-30186 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/UK_inflation-1.png\" alt=\"wielka brytania inflacja\" width=\"778\" height=\"375\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/UK_inflation-1.png 778w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/UK_inflation-1-300x145.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/UK_inflation-1-768x370.png 768w\" sizes=\"(max-width: 778px) 100vw, 778px\" \/><\/a><\/h3>\n<h2>BOC i dolar kanadyjski<\/h2>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-29993\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/cad-dolar.png\" alt=\"-\" width=\"1024\" height=\"169\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/cad-dolar.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/cad-dolar-300x50.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/cad-dolar-768x127.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>Prognoza:<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Jastrz\u0119bia<\/strong><\/span><\/p>\n<p>G\u0142\u00f3wne problemy:<\/p>\n<ul>\n<li><strong>Wysoka inflacja<\/strong> &#8211; 8.1%<\/li>\n<li><strong>Os\u0142abienie korelacji CAD z cenami ropy naftowej<\/strong><\/li>\n<\/ul>\n<p>Uwa\u017ca si\u0119, \u017ce <strong>po rekordowej podwy\u017cce o 100 pb w Kanadzie, przyjdzie pora na kolejne, co wcale nie musi oznacza\u0107 pewno\u015bci co do umocnienia si\u0119 dolara kanadyjskiego.<\/strong><\/p>\n<p>CAD to jedna z walut, kt\u00f3rych warto\u015b\u0107 \u015bci\u015ble korelowa\u0142a z surowcami. W tym przypadku &#8211; z rop\u0105 naftow\u0105. <strong>W przesz\u0142o\u015bci, gdy ceny ropy ros\u0142y, umacnia\u0142y walut\u0119, co rekompensowa\u0142o wy\u017csze ceny energii, ni\u017cszymi kosztami importu do Kanady<\/strong>. Sytuacja powoli ulega jednak zmianie, a jednym z powod\u00f3w mo\u017ce by\u0107 \u015bwiatowa transformacja energetyczna, kt\u00f3ra konsekwentnie zmniejsza znaczenie &#8222;czarnego z\u0142ota&#8221;.<\/p>\n<p>To w\u0142a\u015bnie mniejszy wp\u0142yw rosn\u0105cych cen ropy naftowej na CAD, jako jeden z czynnik\u00f3w, wp\u0142ywa na obecn\u0105, agresywn\u0105 polityk\u0119 BoC.<\/p>\n<table style=\"height: 119px;\" title=\"\" border=\"1\" summary=\"\" width=\"516\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>PKB YoY<\/strong><\/td>\n<td><strong>PKB QoQ<\/strong><\/td>\n<td><strong>Stopa procentowa<\/strong><\/td>\n<td><strong>Inflacja<\/strong><\/td>\n<td><strong>Stopa bezrobocia<\/strong><\/td>\n<\/tr>\n<tr>\n<td>2.9%<\/td>\n<td>0.8%<\/td>\n<td>2.5%<\/td>\n<td><span style=\"color: #ff0000;\">8.1%<\/span><\/td>\n<td>4.9%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/canada_inf.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone size-full wp-image-30185\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/canada_inf.png\" alt=\"kanada inflacja\" width=\"794\" height=\"381\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/canada_inf.png 794w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/canada_inf-300x144.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/canada_inf-768x369.png 768w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/canada_inf-205x97.png 205w\" sizes=\"(max-width: 794px) 100vw, 794px\" \/><\/a><\/h3>\n<h2>BOJ i jen japo\u0144ski<\/h2>\n<h3><img decoding=\"async\" class=\"alignnone size-full wp-image-29991\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/jen.png\" alt=\"-\" width=\"1024\" height=\"160\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/jen.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/jen-300x47.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/jen-768x120.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h3>\n<p>Prognoza:<\/p>\n<p><span style=\"color: #339966;\"><strong>Go\u0142\u0119bia<span style=\"color: #000000;\">\/<span style=\"color: #ff6600;\">powolne zaostrzanie polityki\u00a0<\/span><\/span><\/strong><\/span><\/p>\n<p>G\u0142\u00f3wne problemy:<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-30165\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/Japan_copy1-1.png\" alt=\"japonia forex\" width=\"724\" height=\"103\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/Japan_copy1-1.png 724w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/Japan_copy1-1-300x43.png 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/>Chocia\u017c <strong>Bank of Japan\u00a0nie zaskoczy\u0142, trzymaj\u0105c si\u0119 go\u0142\u0119biej polityki pieni\u0119\u017cnej<\/strong>, zgodnie z prognozami <strong>podwy\u017cszy\u0142 te\u017c oczekiwania wobec inflacji (wzrost z 1.9% do 2.3%)<\/strong>. Tym samym, rynek spodziewa si\u0119, \u017ce Japo\u0144czycy, koniec ko\u0144c\u00f3w b\u0119d\u0105 musieli opanowa\u0107 relatywnie szybki spadek si\u0142y nabywczej, co mo\u017ce nieco ostudzi\u0107 trend os\u0142abiania si\u0119 jena wzgl\u0119dem najwa\u017cniejszych walut.<\/p>\n<table style=\"height: 119px;\" title=\"\" border=\"1\" summary=\"\" width=\"516\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>PKB YoY<\/strong><\/td>\n<td><strong>PKB QoQ<\/strong><\/td>\n<td><strong>Stopa procentowa<\/strong><\/td>\n<td><strong>Inflacja<\/strong><\/td>\n<td><strong>Stopa bezrobocia<\/strong><\/td>\n<\/tr>\n<tr>\n<td>0.2%<\/td>\n<td>-0.1%<\/td>\n<td>-0.1%<\/td>\n<td><span style=\"color: #008000;\">2.4%<\/span><\/td>\n<td>2.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/japan_inflacja.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"size-full wp-image-30164 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/japan_inflacja.png\" alt=\"japonia inflacja\" width=\"795\" height=\"378\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/japan_inflacja.png 795w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/japan_inflacja-300x143.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/japan_inflacja-768x365.png 768w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/japan_inflacja-205x97.png 205w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/a><\/h2>\n<h2>Rynek akcyjny<\/h2>\n<p><img decoding=\"async\" class=\"size-full wp-image-30174 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/AKCJE_HEAD-1.png\" alt=\"akcje wall street\" width=\"1024\" height=\"164\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/AKCJE_HEAD-1.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/AKCJE_HEAD-1-300x48.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/AKCJE_HEAD-1-768x123.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-30176 aligncenter\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/SPDJNQ.png\" alt=\"sp500 nasdaq dow jones\" width=\"822\" height=\"114\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/SPDJNQ.png 822w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/SPDJNQ-300x42.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/SPDJNQ-768x107.png 768w\" sizes=\"(max-width: 822px) 100vw, 822px\" \/><\/p>\n<p>Kontekst:<\/p>\n<ul>\n<li><strong>Ograniczenie si\u0142y nabywczej konsument\u00f3w<\/strong>, ze wzgl\u0119du na inflacj\u0119<\/li>\n<li><strong>Chi\u0144skie obostrzenia zwi\u0105zane z pandemi\u0105 COVID-19<\/strong> i przerwane \u0142a\u0144cuchy dostaw<\/li>\n<li><strong>Perspektywa kontynuacji zacie\u015bniania polityki monetarnej FED-u<\/strong>, a tym samym &#8211; zwi\u0119kszenie kosztu d\u0142ugu<\/li>\n<li><a href=\"https:\/\/forexrev.pl\/silny-dolar-podcina-skrzydla-spolkom-makroprzeglad-2-4-czerwiec\/\" target=\"_blank\" rel=\"noopener\"><strong>Silny dolar negatywnie wp\u0142ywaj\u0105cy na przychody tych ameryka\u0144skich sp\u00f3\u0142ek<\/strong><\/a>, kt\u00f3re w du\u017cym stopniu zale\u017c\u0105 od eksportu<\/li>\n<\/ul>\n<p>Nies\u0142awna tr\u00f3jka, kt\u00f3ra ma negatywny wp\u0142yw na notowania ameryka\u0144skich gie\u0142d to, obok inflacji, uszczuplaj\u0105cej kieszenie konsument\u00f3w:<\/p>\n<ul>\n<li>Walcz\u0105cy z inflacj\u0105 FED i presja jastrz\u0119biej polityki monetarnej<\/li>\n<li>Silny dolar<\/li>\n<\/ul>\n<p>Szczeg\u00f3lnie uci\u0105\u017cliwy staje si\u0119 w\u0142a\u015bnie <strong>dolar, kt\u00f3ry umocni\u0142 si\u0119 z uwagi na gwa\u0142towne oderwanie polityki monetarnej FED-u od kurs\u00f3w obranych przez Europ\u0119 i Japoni\u0119<\/strong>. Rosn\u0105ce stopy procentowe pobudzi\u0142y popyt na walut\u0119, a ta z kolei, zmniejszy\u0142a przychody sp\u00f3\u0142ek za drugi kwarta\u0142.<\/p>\n<p><strong>Do grupy firm z problemami nale\u017c\u0105 m.in. IBM, Philip Morris, Johnson&amp;Johnson czy Netflix. Lista zapewne powi\u0119kszy si\u0119 o kluczowe sp\u00f3\u0142ki technologiczne, jak Apple czy Microsoft, kt\u00f3re s\u0105 szczeg\u00f3lnie uzale\u017cnione od eksportu.<\/strong><\/p>\n<div id=\"attachment_30191\" style=\"width: 1163px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/USDindeks_synth.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-30191\" class=\"wp-image-30191 size-full\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/USDindeks_synth.png\" alt=\"indeks dolara\" width=\"1153\" height=\"548\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USDindeks_synth.png 1153w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USDindeks_synth-300x143.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USDindeks_synth-1024x487.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USDindeks_synth-768x365.png 768w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/USDindeks_synth-205x97.png 205w\" sizes=\"(max-width: 1153px) 100vw, 1153px\" \/><\/a><p id=\"caption-attachment-30191\" class=\"wp-caption-text\">Indeks dolara (r\u00f3wno wa\u017cony), interwa\u0142 1M.<\/p><\/div>\n<p>Gdzieniegdzie natrafimy na nie\u015bmia\u0142e prognozy pocz\u0105tku akumulacji i wi\u0119kszego odbicia na indeksach. Obraz mo\u017ce nieco rozja\u015bni\u0107 si\u0119 po najbli\u017cszej konferencji FED-u, ale jak na razie, pod wzgl\u0119dem fundamentalnym, ameryka\u0144ski rynek wci\u0105\u017c ma potencja\u0142 do dalszych spadk\u00f3w i trudno znale\u017a\u0107 tu twardy argument za pozycj\u0105 d\u0142ug\u0105.<\/p>\n<div id=\"attachment_30181\" style=\"width: 1163px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/sp500indeks.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-30181\" class=\"size-full wp-image-30181\" src=\"https:\/\/forexrev.pl\/wp-content\/uploads\/2022\/07\/sp500indeks.png\" alt=\"sp500 nasdaq nq\" width=\"1153\" height=\"548\" srcset=\"https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/sp500indeks.png 1153w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/sp500indeks-300x143.png 300w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/sp500indeks-1024x487.png 1024w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/sp500indeks-768x365.png 768w, https:\/\/forexrev.com\/wp-content\/uploads\/2022\/07\/sp500indeks-205x97.png 205w\" sizes=\"(max-width: 1153px) 100vw, 1153px\" \/><\/a><p id=\"caption-attachment-30181\" class=\"wp-caption-text\">Indeksy S&amp;P500 i Nasdaq (kolor niebieski).<\/p><\/div>\n<h2>Najwa\u017cniejsze wydarzenia tego tygodnia<\/h2>\n<h3>Wtorek &#8211; 26.07<\/h3>\n<div>\n<table title=\"\" border=\"1\" summary=\"\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>Godzina<\/strong><\/td>\n<td><strong>Waluta<\/strong><\/td>\n<td><strong>Wska\u017anik<\/strong><\/td>\n<td><strong>Warto\u015b\u0107 poprzednia<\/strong><\/td>\n<td><strong>Konsensus<\/strong><\/td>\n<\/tr>\n<tr>\n<td>16:00<\/td>\n<td>USD<\/td>\n<td><span lang=\"pl\">New Home Sales MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>10.7%<\/td>\n<td>-4.2%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><span lang=\"pl\">New Home Sales<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.696M<\/td>\n<td>0.664M<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>\u015aroda \u2013 27.07<\/h3>\n<div>\n<table title=\"\" border=\"1\" summary=\"\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>Godzina<\/strong><\/td>\n<td><strong>Waluta<\/strong><\/td>\n<td><strong>Wska\u017anik<\/strong><\/td>\n<td><strong>Warto\u015b\u0107 poprzednia<\/strong><\/td>\n<td><strong>Konsensus<\/strong><\/td>\n<\/tr>\n<tr>\n<td>08:00<\/td>\n<td>EUR<\/td>\n<td><span lang=\"pl\">GfK Consumer Confidence<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>-27.4<\/td>\n<td>-29<\/td>\n<\/tr>\n<tr>\n<td>10:00<\/td>\n<td><\/td>\n<td><span lang=\"pl\">Bank Austria Manufacturing PMI<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>51.2<\/td>\n<td>49.8<\/td>\n<\/tr>\n<tr>\n<td>14:30<\/td>\n<td>USD<\/td>\n<td><span lang=\"pl\">Durable Goods Orders ex Defense MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.6%<\/td>\n<td>0.4%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Durable Goods Orders Ex Transp MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.7%<\/td>\n<td>0.3%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Durable Goods Orders MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.7%<\/td>\n<td>-0.3%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Goods Trade Balance<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>-$104.31B<\/td>\n<td>-$104B<\/td>\n<\/tr>\n<tr>\n<td>20:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>Fed Interest Rate Decision<\/td>\n<td>1.75%<\/td>\n<td>2.5%<\/td>\n<\/tr>\n<tr>\n<td>20:30<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>Fed Press Conference<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3>Czwartek \u2013 28.07<\/h3>\n<div>\n<table title=\"\" border=\"1\" summary=\"\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>Godzina<\/strong><\/td>\n<td><strong>Waluta<\/strong><\/td>\n<td><strong>Wska\u017anik<\/strong><\/td>\n<td><strong>Warto\u015b\u0107 poprzednia<\/strong><\/td>\n<td><strong>Konsensus<\/strong><\/td>\n<\/tr>\n<tr>\n<td>09:00<\/td>\n<td>EUR<\/td>\n<td><span lang=\"pl\">Unemployment Rate<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>13.65%<\/td>\n<td>13.7%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Retail Sales MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0%<\/td>\n<td>-0.3%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Retail Sales YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>1.4%<\/td>\n<td>1%<\/td>\n<\/tr>\n<tr>\n<td>11:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Unemployment Rate<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>12.5%<\/td>\n<td>12.5%<\/td>\n<\/tr>\n<tr>\n<td>14:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Inflation Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>7.6%<\/td>\n<td>7.3%<\/td>\n<\/tr>\n<tr>\n<td>14:30<\/td>\n<td>USD<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>-1.6%<\/td>\n<td>0.4%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Continuing Jobless Claims<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>1384K<\/td>\n<td>1373K<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Initial Jobless Claims<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>251K<\/td>\n<td>253K<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Jobless Claims 4-week Average<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>240.5K<\/td>\n<td>243K<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3>Pi\u0105tek \u201329.07<\/h3>\n<div>\n<table title=\"\" border=\"1\" summary=\"\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>Godzina<\/strong><\/td>\n<td><strong>Waluta<\/strong><\/td>\n<td><strong>Wska\u017anik<\/strong><\/td>\n<td><strong>Warto\u015b\u0107 poprzednia<\/strong><\/td>\n<td><strong>Konsensus<\/strong><\/td>\n<\/tr>\n<tr>\n<td>07:30<\/td>\n<td>EUR<\/td>\n<td><span lang=\"pl\">GDP Growth Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>4.5%<\/td>\n<td>4%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>-0.2%<\/td>\n<td>0.2%<\/td>\n<\/tr>\n<tr>\n<td>08:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Unemployment Rate Harmonised<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>2.8%<\/td>\n<td>3%<\/td>\n<\/tr>\n<tr>\n<td>08:45<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Inflation Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>5.8%<\/td>\n<td>6%<\/td>\n<\/tr>\n<tr>\n<td>09:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.2%<\/td>\n<td>0.4%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>6.3%<\/td>\n<td>5.5%<\/td>\n<\/tr>\n<tr>\n<td>09:55<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Unemployment Change<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>133K<\/td>\n<td>15K<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Unemployment Rate<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>5.3%<\/td>\n<td>5.3%<\/td>\n<\/tr>\n<tr>\n<td>10:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>3.8%<\/td>\n<td>1.7%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.2%<\/td>\n<td>0.1%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>6.2%<\/td>\n<td>3.7%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\"> \u00a0<\/span><\/td>\n<td>0.1%<\/td>\n<td>0.3%<\/td>\n<\/tr>\n<tr>\n<td>11:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>5.4%<\/td>\n<td>3.4%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Inflation Rate YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>8.6%<\/td>\n<td>8.7%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">GDP Growth Rate QoQ<\/span><span lang=\"pl\"> \u00a0<\/span><\/td>\n<td>0.6%<\/td>\n<td>0.1%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>EUR<\/td>\n<td><span lang=\"pl\">CPI<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>117.01<\/td>\n<td>117.6<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Retail Sales YoY<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>10%<\/td>\n<td>2%<\/td>\n<\/tr>\n<tr>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Inflation Rate YoY<\/span><span lang=\"pl\"> \u00a0<\/span><\/td>\n<td>8%<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td>14:30<\/td>\n<td>USD<\/td>\n<td><span lang=\"pl\">Personal Spending MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.2%<\/td>\n<td>0.9%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Personal Income MoM<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>0.5%<\/td>\n<td>0.5%<\/td>\n<\/tr>\n<tr>\n<td>16:00<\/td>\n<td>\n<p lang=\"pl\">\n<\/td>\n<td><span lang=\"pl\">Michigan Consumer Sentiment<\/span><span lang=\"pl\">\u00a0<\/span><\/td>\n<td>50<\/td>\n<td>51.1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Od pocz&#261;tku roku, po&#347;piech Rezerwy Federalnej w zwalczaniu inflacji doprowadzi&#322; do umocnienia dolara, kt&oacute;ry w ko&#324;cu sta&#322; si&#281; problemem dla ameryka&#324;skich sp&oacute;&#322;ek. Dystans mi&#281;dzy bankami centralnymi powoli zaczyna si&#281; jednak zmniejsza&#263;, wraz z pierwsz&#261; od 11 lat, podwy&#380;k&#261; st&oacute;p procentowych &hellip; <a href=\"https:\/\/forexrev.com\/pl\/pobudka-w-europie-i-skutki-uboczne-silnego-dolara-makroprzeglad-4-4-cz-ii-lipiec\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":35,"featured_media":30206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-30145","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newsy"},"acf":[],"_links":{"self":[{"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/posts\/30145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/comments?post=30145"}],"version-history":[{"count":39,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/posts\/30145\/revisions"}],"predecessor-version":[{"id":30202,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/posts\/30145\/revisions\/30202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/media\/30206"}],"wp:attachment":[{"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/media?parent=30145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/categories?post=30145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexrev.com\/pl\/wp-json\/wp\/v2\/tags?post=30145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}