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Zloty Near Neutral Levels Ahead Of Tomorrow's Data

PLN

EUR/PLN keeps struggling for a clear direction today and last deals -22 pips at PLN4.4452. From a technical standpoint, bears look for losses past Jun 12 low of PLN4.4307 before setting their sights on the PLN4.4 figure. Bulls see the 20-EMA at PLN4.4798 as their initial target.

  • There is plenty of Polish data on the radar this week, with most releases slated for Wednesday and Thursday. ING write ahead of these publications that they should not move the needle on the NBP outlook, adding that the next round of fiscal promises from the government will be more significant.
  • Although the NBP is not due to deliver a monetary policy decision until July 6, the focus is on other CE3 central banks. Hungarian policymakers will announce their decision this afternoon, while the CNB is due to follow tomorrow.
  • POLGBs are firmer as we type, with curve running flatter. The WIG20 Index is little changed on the day.

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