Free Trial

USDPLN Consolidates Towards 4.45 Level

POLAND
  • Poland’s government may amend the law on Tuesday to be able to tap as much as 7 billion zloty from its own resources to finance some of the projects and reforms agreed with the EU as part of its Recovery and Resilience Fund spending plan, Dziennik Gazeta Prawna reports without giving its sources (bbg).
  • Last week, economic data showed that core CPI accelerated to 8.5% in May (as exp.), up from 7.7% the previous month.
  • Next important data to watch will be PPI inflation and average gross wages, coming out on June 21.
  • USDPLN has been consolidating lower in the past few days, with the pair currently trading around the 4.45 level. ST support to watch on the downside stands at 4.40, followed by 4.3710 (50DMA). On the topside, resistance to watch stands at 4.5440.

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.