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Y/Y PPI Shrinking at Fastest Pace on Record

POLAND
  • Poland PPI (Nov) M/M -0.8% vs. Exp. -0.1% (Prev. -0.5%, Rev. -0.6%), Y/Y -4.7% vs. Exp. -3.8% (Prev. -4.1%, Rev. -4.2%)
  • Sold Industrial Output (Nov) M/M 0.2% vs. Exp. 1.5% (Prev. 4.1%, Rev. 4.4%), Y/Y -0.7% vs. Exp. 0.8% (Prev. 1.6%, Rev. 1.9%)
  • EUR/PLN trades a new daily high on the back of the weaker-than-expected PPI data, with soft industrial production adding to the weaker PLN theme. Y/Y PPI is now slowing at its fastest pace on record, helping push EUR/PLN to 4.3390.
  • Yesterday's highs at 4.3454 are the next upside level ahead of more notable resistance expected into 4.3525.

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