Free Trial

PLN: Zloty Slightly Firmer Ahead Of NBP Presser

PLN

EUR/PLN has shed 43 pips and changes hands at 4.2978, with bears looking for losses towards 4.2791, the 76.4% retracement of the May 28 - Jun 14 rally. On the flip side, bulls keep an eye on 4.3826, the high print of Jun 14. The focus remains on the NBP as we await today's press conference and tomorrow's presentation of the details of the new forecasts.

  • Event risk is concentrated around NBP Governor Glapinski's press conference, following the MPC's decision to keep interest rates unchanged. The outcome of the meeting was widely expected, but the statement included the main parameters of the updated macroeconomic forecasts. The Governor may touch upon those today in the context of the monetary policy outlook. Elsewhere, senior members of the central bank's analytical staff will discuss the latest projection during a presentation tomorrow morning.
  • POLGB yields are a tad higher (+1.9bp-3.9bp) across the curve. The WIG20 Index trades 0.3% below neutral levels.

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.