MNI China Daily Summary: Tuesday, November 26

MNI: Japan Govt Keeps Economic Assessment, Ups Imports

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1910 Tues; -1.46% Y/Y

MNI China Daily Summary: Monday, November 25

MNI: UK CBI NOV DIST TRADE REPORTED SALES -18

MNI: UK NOV BRC SHOP PRICES +0.2% M/M, -0.6% Y/Y

MNI: JAPAN OCT SERVICES PPI +2.9% Y/Y; SEPT REV +2.8%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PLN: Zloty Lags Behind Its CE3 Peers, Participants Assess NBP Outlook

PLN
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion

EUR/PLN swung towards the 4.30 figure, briefly showing above that level. The rate last changes hands at 4.2963, 68 pips higher on the day. A sustained break above Aug 28 high of 4.3039 would support the bullish case, while bears look for a reversal towards Aug 16 low of 4.2614.

  • Bloomberg circulated excerpts from a note by Citi, who now expect the NBP to "embark on a significant easing cycle in 2025." They wrote that "the MPC may be ready to discuss first rate cut as soon as in March 2025" and they "see room for at least 100-150bp of rate cuts, with the final scale/pace depending on the pace of easing by major central banks."
  • A parliamentary committee will discuss the proposal to investigate NBP Governor Adam Glapinski during a closed-door meeting starting at 13:00BST/14:00CEST.
  • POLGB curve has bear steepened at the margin, with yields last seen 0.6-3.9bp higher. The Finance Ministry yesterday sold PLN8bn of bonds at an auction, attracting demand for PLN14.9bn. It then sold a further PLN1.42bn at a top-up auction.
  • The WIG20 Index has rebounded from a one-month low, adding 2.1% today. Bulls look for a recovery towards Sep 2 high of 2,467.
  • The local data docket is empty today; Statistics Poland will release final August CPI readings tomorrow.
209 words

To read the full story

Close

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.

EUR/PLN swung towards the 4.30 figure, briefly showing above that level. The rate last changes hands at 4.2963, 68 pips higher on the day. A sustained break above Aug 28 high of 4.3039 would support the bullish case, while bears look for a reversal towards Aug 16 low of 4.2614.

  • Bloomberg circulated excerpts from a note by Citi, who now expect the NBP to "embark on a significant easing cycle in 2025." They wrote that "the MPC may be ready to discuss first rate cut as soon as in March 2025" and they "see room for at least 100-150bp of rate cuts, with the final scale/pace depending on the pace of easing by major central banks."
  • A parliamentary committee will discuss the proposal to investigate NBP Governor Adam Glapinski during a closed-door meeting starting at 13:00BST/14:00CEST.
  • POLGB curve has bear steepened at the margin, with yields last seen 0.6-3.9bp higher. The Finance Ministry yesterday sold PLN8bn of bonds at an auction, attracting demand for PLN14.9bn. It then sold a further PLN1.42bn at a top-up auction.
  • The WIG20 Index has rebounded from a one-month low, adding 2.1% today. Bulls look for a recovery towards Sep 2 high of 2,467.
  • The local data docket is empty today; Statistics Poland will release final August CPI readings tomorrow.