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Zloty Barely Changed Ahead Of President's Briefing

PLN

EUR/PLN oscillates around neutral levels, last dealing at 4.4732. Familiar technical levels remain in play, with bulls eyeing resistance from the 50-EMA, which kicks in at 4.5258. On the flip side, bears look for losses towards Oct 17/Jul 31 lows of 4.4096/4.3986.

  • President Andrzej Duda will comment on his consultations with all parties represented in the new parliament, which were intended to provide more clarity on possible coalition arrangements. Comments from various quarters indicated that the head of state is unlikely to unveil the name of his candidate for Prime Minister today.
  • NBP's Tyrowicz said that that the central bank's short-term economic forecasts suggest that inflation may accelerate again in November and December. Separately, NBP's Kotecki said that inflation will fall to +6%-7% Y/Y at the end of the year, which means that extending "anti-inflationary shields" would make no sense.

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