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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.
CEE FX
- The uncertainty over the policy outlook in addition to a range of risk factors (on going dispute with the EU, FX loan settlements, rising LT bond yields…) have been weighing on PLN, which is currently at an all-time low against the CZK.
- Even though the NBP has surprise the market with aggressive hikes in its last two meetings, Governor Glapinski refused to comment if the NBP has embarked into a tightening cycle.
- CZKPLN recently broke above its 0.1834 resistance (December 2011) and is currently testing the 0.1850 level, which represents the 138.2% Fibo projection of the 0.1634 – 0.1790 range.
- Next key level to watch on the topside stands at 0.1868 (150% retracement), followed by 0.1880, which represents the high of its LT upward trending channel.
- On the downside, first support stands at 0.1833, followed by 0.1827 (126.6% Fibo projection).
Source: Bloomberg/MNI
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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