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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.
POLAND
- USDPLN continues to consolidate lower this morning after the pair broke below the 50DMA yesterday; next support to watch on the downside stands at 4.2660, which corresponds to the 50% retracement of the 3.9130 – 4.62 range. On the topside, resistance to watch above 4.3330 (50DMA) stands at 4.35 (38.2% Fibo).
- The PLN strength continues to support domestic equities, with the WIG20 index breaking above the 1,800 level this week, testing the 1,835 resistance (23.6% Fibo retracement of the 1,652 – 2,429).
- The chart below shows the strong co-movement between USDPLN (inverted) and Polish equities in the past cycle.
- Polish PM Morawiecki said that there are no recession risk head and Poland aims for 3% GDP growth in 2022.
Source: Bloomberg/MNI
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.
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