MNI BRIEF: Canada PM Carney Derides Trump's 51st State Idea

MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI BRIEF: Olli Rehn Gets Second Term As Bank Of Finland Head

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PLN: Opposition to Germany Debt Package Pushes EUR/PLN Back Towards 4.20

PLN
PolandCEEMEAEM BulletBulletEmerging Market News

The brief drop in EUR/USD on the back of headlines that Germany’s Greens wont support the draft debt package plan in parliament has pressured the Polish zloty, with EUR/PLN 0.35% higher on the session and near last week’s best levels. Poland was among the main beneficiaries when the spending plans were initially proposed last week given its sensitivity to Germany’s growth prospects.

  • The move from the greens is somewhat unexpected - they're one of the key coalition parties needed alongside the CDU and SPD to get the draft package through parliament - but important to note that it's not an unconditional rejection of the package, potentially accounting for the relatively contained single currency weakness.
  • Still, the zloty has not recovered as well as the euro. For EURPLN, resistance to watch is at 4.2014, the 50-day EMA, a break of which would highlight a possible reversal of the downtrend and expose 4.2379, the Feb 4 high.
153 words

To read the full story

Close

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.

The brief drop in EUR/USD on the back of headlines that Germany’s Greens wont support the draft debt package plan in parliament has pressured the Polish zloty, with EUR/PLN 0.35% higher on the session and near last week’s best levels. Poland was among the main beneficiaries when the spending plans were initially proposed last week given its sensitivity to Germany’s growth prospects.

  • The move from the greens is somewhat unexpected - they're one of the key coalition parties needed alongside the CDU and SPD to get the draft package through parliament - but important to note that it's not an unconditional rejection of the package, potentially accounting for the relatively contained single currency weakness.
  • Still, the zloty has not recovered as well as the euro. For EURPLN, resistance to watch is at 4.2014, the 50-day EMA, a break of which would highlight a possible reversal of the downtrend and expose 4.2379, the Feb 4 high.