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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
- EURPLN has been consolidating sharply lower in the past week, partly driven by the positive surprise in inflation on Tuesday, which increased the odds for a more aggressive hike (i.e. 75bps) next week – Dec 8.
- As a reminder, CPI inflation accelerated to 7.7% in November (vs. 7.3% exp.), up from 6.8% the previous month and diverging significantly from the NBP 3.5% upper tolerance band.
- The pair tested its 4.5890 support earlier, which represents the 50% retracement of the 4.4360-4.7420 range.
- A break below that level would open the door for a move down to 4.57 (200DMA).
- On the topside, first resistance stands at 4.6190 (DMA), followed by 4.6250 (38.2%).
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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