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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.
POLAND
- Polish equities, which have been under elevated pressure in November amid PLN weakness and rising uncertainty over the economic outlook, consolidated higher in today’s trading session.
- WIG20 Index found support slightly above its 2,103.51 support, which represents the 38.2% Fibo retracement of the 1,496.80 – 2,478.60 range.
- The index currently stands slightly below its 200DMA resistance at 2,201.35; a break above that level would open the door for a move up to 2,246.80 (23.6% Fibo).
- On the downside, next level to watch below 2,103.51 stands at 2,000.
- In the short-term, EM equities will be highly sensitive to the direction of the US Dollar:
- A more ‘dovish’ Fed due to the rising uncertainty could lead to a consolidation of the US Dollar and therefore a recovery in some EM risky assets.
- On the other hand, if the Fed remains ‘hawkish’ and still considers accelerating its tapering to start hiking rates in H2 2022, preference for the USD could remain strong and therefore weigh on EM Equities.
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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