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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
- NBP is meeting on July 7 and a 75bps hike is on play for Thursday.
- Risks may be skewed to the upside slightly but the board has recently mentioned that it was not in favor of maintaining its 'sharp' 100bps+ hike stance.
- Base case: 75bps hike, 25% probability of 100bps hike, which may lead to some (little) PLN appreciation, and a 5% probability of 50bps hike as lower than 75bps would emphasize PLN weakness.
- EURPLN broke above its 4.7450 resistance today and is currently trading at its highest level since March 25.
- Next resistance to watch on the topside stands at 4.8030, which corresponds to the 38.2% Fibo retracement of the 4.4830 - 5.0020 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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