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PLN: Zloty Falters Alongside Rest Of EM FX Bloc

PLN
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion

EUR/PLN has ticked higher as broader greenback strength coincides with weakness in EM FX space, with political risk associated with the French election keeping market participants on their toes. The rate last changes hands at 4.3278, 113 pips higher on the session, and bulls look for gains past Jun 21 high of 4.3360 and towards Jun 14 high of 4.3826. On the flip side, bears initially keep an eye on 4.2791, the 76.4% retracement of the May 28 - Jun 14 rally.

  • The NBP's Monetary Policy Council convenes for a two-day meeting in Warsaw, before the announcement of the rate decision tomorrow. The Council is expected to stand pat on rates again, but this time around the central bank will have a new set of staff forecasts. Governor Glapinski's presser will shed more light on the MPC's thinking on Thursday.
  • POLGB yields are a tad lower across the curve; the WIG20 Index has shed 0.8%.
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EUR/PLN has ticked higher as broader greenback strength coincides with weakness in EM FX space, with political risk associated with the French election keeping market participants on their toes. The rate last changes hands at 4.3278, 113 pips higher on the session, and bulls look for gains past Jun 21 high of 4.3360 and towards Jun 14 high of 4.3826. On the flip side, bears initially keep an eye on 4.2791, the 76.4% retracement of the May 28 - Jun 14 rally.

  • The NBP's Monetary Policy Council convenes for a two-day meeting in Warsaw, before the announcement of the rate decision tomorrow. The Council is expected to stand pat on rates again, but this time around the central bank will have a new set of staff forecasts. Governor Glapinski's presser will shed more light on the MPC's thinking on Thursday.
  • POLGB yields are a tad lower across the curve; the WIG20 Index has shed 0.8%.