Free Trial

Week's Highs, 100-dma in Play for EUR/PLN

POLAND
  • EUR/PLN holds toward the top-end of the week's range, trading within reach of Monday's 4.4682 high. Gains through this mark would open 4.4803 and the 100-dma of 4.4962, with both the NBP decision today, Glapinski's press conference tomorrow, and the retracement of EUR/USD strength now key factors for the cross.
  • Local equity markets are softer and underperforming western Europe counterparts: WIG losses are lead by softer bank stocks and PKO in particular on reports that the outgoing cabinet could seek to dismiss the bank's CEO.
  • The NBP rate decision takes focus going forward. Last month, the decision was released at 3.13pm local time (1413UK) and, notably, markets did *not* receive the usual 15 minute warning from the bank before publication. Governor Glapinski holds his usual post-decision press conference tomorrow at 3pm local time (1400GMT).
  • Full preview including summary of sell-side views here: https://roar-assets-auto.rbl.ms/files/56843/MNI%20...

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.