Free Trial

PLN Brushes Off Protest Risks, Dials in on GDP

POLAND
  • Local rates open higher after failing to take the next leg lower.
  • 10y rejected 1.14, tracking towards 1.18-1.20, 5Y holding near 0.56.
  • EUR/PLN continues its push lower after peaking and reversing from 4.56 resistance to pull back below 4.5414 - breaking the uptrend held since 20-Jan.
  • Increased protest action and the implications they hold for possible early elections is a tail risk to PLN in the near to medium-term, but for now, the pair may look to pull lower.
  • GDP in focus today as we get a first look at the 4Q20 damage brought on by tighter restrictions - expected at -2.7%.
  • Sup 1: 4.5368, Sup2: 4.5302, Res1: 4.5464 Res2: 4.5525
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.