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PLN: EUR/PLN Breaches Resistance at 50-Day EMA Following Maslowska Comments

PLN
  • Weakness in the zloty today follows comments from NBP’s Gabriela Maslowska earlier this morning, who said that while caution is needed in decisions, the possibility of a rate cut in 2025 cannot be excluded.
  • This has prompted a 0.2% move higher in EURPLN, which has breached the 50-day EMA at 4.2908. That average limited gains yesterday, and a clear break here could signal potential for a bullish reversal and expose 4.3309, the Aug 9 high.
  • While the comments are broadly in-line with her previous comms, they nevertheless add to the increasingly dovish tone of the NBP. Most notably, Chief Glapinski said last week a discussion on monetary policy adjustment before 2026 can’t be ruled out, having previously said interest-rate cuts are out of the question until 2026.
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