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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POLAND
- EUR/PLN trades flat around the open today in a similar range to Hungary's HUF, broadly tracking moves in the EUR.
- PLN weakened -0.64% vs the EUR yesterday, forming a large bullish engulfing candle on the daily chart and keeping the bull channel formed on 07 June broadly intact.
- PLN continues to underperform its CEE peers with less buffers against heightened risk aversion as a result of the NBP's more dovish stance vs Hungarian and Czech central banks.
- Real retail sales data fell short of expectations this morning m/m & y/y alongside weaker construction – while vanilla retail sales surprised positively.
- Next key topside level is 4.60, which opens up a potential move towards 4.62 & 4.6458.
- Intraday Sup1: 4.5792, Sup2: 4.5738
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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