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Zloty Advances Amid Continued Coalition Talks

PLN

EUR/PLN has faltered and last deals at 4.4494, down 140 pips on the session, with bears looking for losses towards Oct 17/Jul 31 lows of 4.4096/4.3986. On the flip side, the focus is on 4.5197, the 50-EMA.

  • POLGB yields sit lower across the curve, taking their cue from core European markets. Polish FRAs continue to edge lower. The WIG20 Index has added 1.3% this morning.
  • Leaders of pro-EU opposition parties continue their coalition talks today, with leaders reaffirming their determination to form government headed by Civic Coalition's Donald Tusk and unseat the ruling Law and Justice (PiS).
  • Deputy Finance Minister Sobon said he expects October CPI inflation to print around +7.0% Y/Y. This is more conservative than NBP Governor Glapinski's estimate of "below +7.0% Y/Y" and Bloomberg consensus call of +6.6% Y/Y. Flash data will be released tomorrow at 09:00GMT/10:00CET.

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