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EUR/PLN Unchanged on Rate Decision; Policy Statement, Projections Awaited

POLAND

EURPLN reacts little to the rate decision, which was in-line with unanimous sell-side consensus. Attention turns to the release of the updated macroeconomic projections.

  • No official confirmation yet of when the policy statement will be released, but it came at 15:00GMT at each of the last three meetings. Governor Adam Glapinski will hold a press briefing tomorrow at 14:00GMT/15:00CET.
  • For EURPLN, a bear threat remains present with sights on 4.2935, the Dec 13 low and key support. Clearance of this level would confirm a resumption of the downtrend that started in September last year, potentially opening 4.2371, the Feb 14 2020 low. Initial firm resistance has been defined at 4.3417, the 50-day EMA.
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