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Chances That We Are Close To The End of The Tightening Cycle Are ‘Very Low’

POLAND
  • NBP member Kotecki mentioned in a recent interview that the chances that we are close to the end of the tightening cycle are ‘very low’.
  • Poland plans to introduce support program for households buying coal so that price for them drops to 1k per ton, Dziennik Gazeta Prawna reports, citing Climate Minister Anna Moskwa as saying in interview (BBG).
  • EURPLN has been retracing higher in the past few days, breaking above the 4.6220 (200DMA), currently testing its 50DMA at 4.64. Next level to watch on the topside stands at 4.6440 (100DMA). Support to watch on the downside stands at 4.60.
  • Poland 10Y yield has been retracing sharply higher in the past week, gradually approaching its 7.5% resistance. Next resistance to watch on the topside stands at 8%. On the downside, support to watch stands at 7%.

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