Free Trial

EUR/PLN Choppy Amid NBP intervention Uncertainty; MPC Majority In Question

POLAND
  • EUR/PLN choppy trading persists into 2021 with an early move lower being retraced after pulling back beyond the 76.4% mark of the 30 Dec NBP intervention.
  • Cross may look to occupy a broad range between 4.5179 - 6.62217 as markets negotiate NBP intervention and establish where its lower line in the sand is after Glapinski said he could see the cross above 4.60 and is still undervalued.
  • MPC members still coming out in favour of rate cuts, but many don't see this materialising.
  • PMIs printed marginally higher this morning at 51.7 vs 51.3 exp. Front end yields still choppy to lower after numerous rate cut comments.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.