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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
- Despite the worsening COVID-19 situation in Poland, in which the caseload has now surpassed the previous peak in Autumn and more people need to be admitted to hospital this time according to the Health Ministry. EURPLN has been trending higher this week despite more widespread EUR weakness (EURUSD broke below its 200-DMA yesterday and is now testing the psychological support of 1.18).
- EURPLN is approaching key resistance at 4.65; a move above that level would bring us to the 2009 highs (EURPLN reached a high of 4.93 in February 2009). On the downside, first support stands at 4.58, followed by 4.54, the 50-DMA.
- Next important economic data to watch for Poland is inflation, coming up on March 31. Despite the rise in global inflationary pressures, headline inflation has been falling in Poland, from a high of 4.7% in February 2020 to 2.4% last month, giving NBP policymakers some time before considering starting a hiking cycle as the elevated restrictions imposed by the government keep weighing on business sentiment and the economic recovery.
Source: Bloomberg/MNI
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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