Zloty Near Neutral Levels, Nov CPI Inflation Revised Slightly Higher

EUR/PLN unwound its earlier uptick and last operates at 4.3065, a touch lower on the session. All in all, the pair still respects the confines of its weekly range. Bears look for a move through yesterday's low of Dec 14 low of 4.2942 and towards Mar 4, 2020 low of 4.2870. The initial layer of resistance is provided by the 20-EMA at 4.3430.

• European Commission President von der Leyen said that Poland will receive EUR5bn in the first tranche of suspended EU funds by the end of the year, while Prime Minister Tusk confirmed that his government filed a request for a further EUR6.9bn. This was announced after the two leaders discussed options to secure Poland's access to funds frozen due to concerns over the actions of the previous administration.
• Poland's November CPI inflation reading was revised marginally higher to +6.6% Y/Y from the flash reading of +6.5%. Official core CPI data will cross the wires on Monday. Initial comments from local desks flagged the potential for a temporary rebound in price growth in December, with disinflation expected to resume in 2024.
• POLGB yield curve has bull flattened, with 5s outperforming as we type. The WIG20 Index has added 1.7% thus far, hitting its best levels since early 2022.