Free Trial
EURUSD TECHS

Shallow Correction

OPTIONS

Some Euribor Downside Ahead Of Next Week's ECB

OPTIONS

Larger FX Option Pipeline

US

Atlanta Fed GDPNow Q1 '23 Est

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Zloty Edges Lower, Mortgage Holiday Extension Chatter Takes Focus

PLN

EUR/PLN has crept higher and last deals at PLN4.7158, up 30 pips on the session, with familiar technical targets still in play. As a reminder, a clearance of Jan 19 high of PLN4.7453 would bring Nov 16 high of PLN4.7848 into view.

  • POLGBs have strengthened and last trade 7.1-9.9bp firmer across the curve, with benchmark 10-year yield printing one-week lows. The 2-year/10-year bit of the curve has moved deeper into inverted territory. The spread in yields on 10-year POLGBs and 10-year Bunds has narrowed a tad.
  • WIG20 has remained heavy as government spokesman Piotr Muller said that the potential extension of mortgage payment holidays will depend in the level of interest rates, with the final decision coming up around mid-year.
  • NBP's Ludwik Kotecki said that reports on the idea of mortgage holiday extension were "surprising" and signal the government's scepticism about the strength of imminent disinflation. He said the central bank is unlikely to raise interest rates this year, but any talk of cuts at this point would be premature.
  • Poland's unemployment rose to 5.2% in December, with the number of jobless people up by 12.1k to 0.81mn. The labour market remains tight, with the unemployment rate close to multi-decade lows.
197 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

EUR/PLN has crept higher and last deals at PLN4.7158, up 30 pips on the session, with familiar technical targets still in play. As a reminder, a clearance of Jan 19 high of PLN4.7453 would bring Nov 16 high of PLN4.7848 into view.

  • POLGBs have strengthened and last trade 7.1-9.9bp firmer across the curve, with benchmark 10-year yield printing one-week lows. The 2-year/10-year bit of the curve has moved deeper into inverted territory. The spread in yields on 10-year POLGBs and 10-year Bunds has narrowed a tad.
  • WIG20 has remained heavy as government spokesman Piotr Muller said that the potential extension of mortgage payment holidays will depend in the level of interest rates, with the final decision coming up around mid-year.
  • NBP's Ludwik Kotecki said that reports on the idea of mortgage holiday extension were "surprising" and signal the government's scepticism about the strength of imminent disinflation. He said the central bank is unlikely to raise interest rates this year, but any talk of cuts at this point would be premature.
  • Poland's unemployment rose to 5.2% in December, with the number of jobless people up by 12.1k to 0.81mn. The labour market remains tight, with the unemployment rate close to multi-decade lows.