Free Trial

Zloty Inches Higher In Slow Holiday Trade

PLN

EUR/PLN sits marginally lower on the day, last -54 pips at 4.3277, with local financial markets shuttered for a public holiday. Zloty liquidity has been reduced this week, with another market closure on Wednesday and understandably limited activity on Thursday.

  • The main contours of a familiar technical picture remain, with the rate trading sideways over the past two weeks or so. A move through Apr 22 low of 4.3037 would expose Apr 9 low of 4.2527 and the 4.25 figure. On the topside, the focus is on Apr 16 high of 4.3728.
  • The National Bank of Poland (NBP) will deliver its monetary policy decision next week. Another on-hold decision is widely expected as it was well telegraphed through various channels of central bank communications.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.