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Zloty On Back Foot, NBP Rate Decision & Local Elections Eyed

PLN

EUR/PLN continues to trade in a very tight range, tracking below the 4.30 figure. The pair last deals +50 pips at 4.2970, with the zloty lagging its CE3 peers. From a technical perspective, bulls look for a move through the 50-EMA (4.3179), while bears keep an eye on Mar 11 low of 4.2749.

  • The NBP will likely stand pat on rates today, even as inflation dipped below the +2.5% Y/Y point-target in March, with the MPC focusing on the risks and uncertainties ahead. See our preview of the decision here.
  • Poland will hold regional and local elections across the country this Sunday, with mayoral run-offs due two weeks later. For more details about the upcoming elections, see our briefing here.
  • POLGBs have richened across the curve, with yields last seen 4.4-5.9bp lower. The WIG20 Index has added 0.8%, with bulls looking to force a break above recent cyclical highs.
EM BulletHomepageBulletPolitical RiskEmerging Market News
EM BulletHomepageBulletPolitical RiskEmerging Market News

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