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EUR/PLN Brushes Off Higher Core CPI, Focus Shifts to US Data, FOMC Mins

POLAND
  • EUR/PLN trades +0.18% higher this morning, broadly following the prevailing risk-off trend.
  • The cross ended marginally lower yesterday after remaining subdued around the above-expectations core CPI print.
  • Signs of cooperation with the ECJ ruling were a net positive for PLN as the threat of reduced EU funding represented a far greater threat than conducting justice reforms.
  • Markets will be attentive to follow up statements on the next steps regarding reforms – due to start in the coming months.
  • Beyond this, the focus will be on US retail sales and industrial/manufacturing data for the remainder of today's session.
  • Intraday Sup1: 4.5634, Sup2: 4.5594, Res1: 4.5738, Res2: 4.579
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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