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Zloty Extends Gains, Consumer Confidence Improves More Than Expected

PLN

EUR/PLN remains heavy and has now breached yesterday's worst levels to last trade -93 pips at PLN4.6112. Bears look for a clean break below the PLN4.60 figure, while bulls keep an eye on the 20-EMA, which intersects at PLN4.6564.

  • POLGBs are marginally mixed across the curve, while the WIG20 Index trades ~1.4% higher on the day, after refreshing cyclical highs.
  • Poland's consumer confidence improved to -32.2 this month from -35.6 prior, exceeding the -35.0 consensus forecast.
  • Separately, the statistics office revised GDP growth figures for 2022 and 2021 to +5.1% Y/Y (from +4.9%) and to +6.9% Y/Y (from +6.8%) respectively.

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