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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
- Renewed political tensions in recent weeks have left CEE currencies vulnerable, particularly against the US Dollar with participants fleeing to risk off assets to hedge against the rising market uncertainty
- The PLN weakness combined with the global risk off environment in the past month has led to a significant surge in implied volatility in Polish risky assets, with the WIG20 index trading nearly 30% below its October 2021 high.
- The chart shows that periods of sustain PLN depreciation have generally coincided with falling equity markets (and vice versa) in the past cycle.
- WIG20 is approaching key support at 1,800, a break below that level would open the door for a move down to 1,718.50 (61.8% Fibo retracement of the 1,248.80 – 2,478.60 range).
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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