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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
- The surge in geopolitical tensions in Russia has left Polish risky assets and PLN vulnerable in recent weeks due to Poland’s relatively bigger dependence on imports from Russia.
- Sell-side firms have become increasingly bearish on the PLN against major crosses (Euro, USD) in the past two weeks.
- New lows in PLN could continue to weigh on Polish equities in the near term; the chart below shows that periods of PLN weakness have been generally associated with falling equities (and vice versa) in the past cycle.
- WIG20 is currently trading around the 2,200 level; key short term support to watch on the downside stands at 2,103.50, which corresponds to the 38.2% Fibo retracement of the 1,496.80 – 2,478.60 range.
- On the topside, resistance to watch stands at 2,246.40 (50DMA, 23.6% Fibo), followed by 2,260.90 (200DMA).
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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