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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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Free AccessGeopolitical Uncertainty Leaves PLN and Risky Assets Vulnerable in ST
- Poland called on the EU to impose a special duty mechanism on Russian gas and oil imported to EU so that Russia won’t be able to find new markets (BBG).
- The cut in gas deliveries to Poland this week triggered a spike in volatility on risky assets and the PLN.
- USDPLN broke above its 4.40 resistance on Tuesday and is currently trading at around 4.45; next ST resistance to watch on the topside stands at 4.5280. On the downside, support to watch below 4.40 stands at 4.3210.
- Polish equities have also been sold aggressively following the news; WIG20 index is down over 10% this month and down nearly 25% since its high reached in October 2021. Key support to watch on the downside stands at 1,781, which was the low reached in February.
- Yesterday, NBP member Kochalski mentioned in an interview that he sees room for more rate hikes and ‘cannot rule out’ another 1ppt as we saw in April.
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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.