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Zloty Edges Lower, New Parliament Convenes

PLN

EUR/PLN operates at 4.4350, up 47 pips on the session, with the zloty lagging most its EMEA peers. Bulls look for a break above Oct 25 high of 4.4898, which would expose the 50-EMA at 4.4956. On the flip side, the focus is on Oct 17/Jul 31 lows of 4.4096/4.3986.

  • POLGBs are slightly softer across the curve, with yields last seen 2.2-3.2bp higher across the curve. The WIG20 Index has added 1% thus far.
  • Fitch left Poland's credit rating unchanged at "A-" with a stable outlook. The agency said that the country's diversified economy and relatively low debt levels counterbalance underwhelming governance scores and revenue, as well as higher volatility of inflation.
  • The newly elected lower house of parliament will convene at 11:00GMT/12:00CET. Its first decision will be to elect the Speaker and Deputy Speakers, which should confirm that the pro-EU coalition controls a majority of seats.
  • Poland will release current account balance for September at 13:00GMT/14:00CET.

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