Zloty Gains Ahead Of Key Data Prints This Week

The Zloty and Forint are the best performers in the EMEA space at typing. EUR/PLN deals at PLN4.6846, down 79 pips on the day, after printing new two-week lows this morning. Bears look for continued sales past Nov 8 low of PLN4.6690, while bulls keep an eye on Nov 23 high of PLN4.7173.

• Polish government bond yields have faltered and last sit 7.6bp-8.8bp lower across the curve, resuming declines after catching a breather last Friday. The spread on 2-year/10-year yields has narrowed at the margin.
• WIG20 trades 0.79% lower on the day as China COVID-19 concerns have generated headwinds for the broader equity space. The index returns below its 200-DMA despite closing above there last Friday. Regional peers PX and BUX are also softer on the day.
• Local media are now recycling last Friday's comments from NBP's Dabrowski, who told Reuters that the rate-hike cycle is expected to "continue for a while," albeit "we can't really say that we've definitely finished rate hikes."
• Local data releases will pick up from the middle of the week, with final Q3 GDP and flash November CPI coming up.