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Inflation Expected To Accelerate To 11.4% in April

POLAND
  • Germany and Greece are preparing to send more natural gas to Poland and Bulgaria after Russia reduced deliveries, FT reports, citing data from Hellenic Gas Transmission System Operator.
  • CPI inflation is coming out this morning, expected to accelerate to 11.4% in April, up from 11% the previous month.
  • Volatility on PLN and domestic risky assets has been surging in recent days following the headline that Russia will halt its gas deliveries to Poland.
  • USDPLN found a local high at 4.4930 yesterday; next resistance to watch on the topside stands at 4.5280. on the downside, support to watch stands at 4.40, followed by 4.3210.
  • Polish equities are down over 10% this month, with the WIG20 index currently trading at around the 1,900 level; key support to watch stands at 1,781, which was the low reached in the end of February.
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