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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
- The surge in Polish ST rates has been strongly supporting financial stocks in the past year, which continue to gradually recover from their low reached in October 2020.
- Despite the surge in global liquidity that generated a strong rally in risky assets in the second half of 2020, Polish financials stocks remained vulnerable in the 6 months following the Covid19 shock amid low interest rates, uncertainty over the NBP policy outlook and PLN weakness.
- This morning, ING bank Slaski CEO mentioned in an online new briefing that recent rate hikes could boost 2022 interest income by 700mil/900mil PLN.
- MSCI Poland Financials broke above their 390 resistance this week, which corresponds to the 76.4% Fibo retracement of the 154.50 – 463.40 range (463.40 was the high reached in early 2018, when liquidity reached its peak in the EM world, before Covid).
- Next resistance to watch stands at 400, followed by 408.70 (Nov 3 high).
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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