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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
- PLNJPY keeps rejecting its 29 resistance, 2020-2021 high and the 50% retracement of the 2018-2021 range.
- A break above that level would open the door for a move up to 29.50 (high of the upward trending channel); key resistance at 30 (61.8% Fibo).
- On the downside, levels to watch remains at 28.39 (50D SMA), followed by 28.23 (100D SMA).
- Since the beginning of April, PLN has remained strong against major crosses, recovering sharply from its March depreciation.
- While the NBP is expected to keep its benchmark rate steady tomorrow (May 5) at 0.1%, rising inflationary pressures could eventually lead to further steepening of the yield curve and potentially weaken the PLN.
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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