Free Trial

Zloty Operates Near Neutral Levels

PLN

EUR/PLN sits at 4.3286, a touch higher on the day. A clearance of the 20-EMA at 4.3395 would expose the 50-EMA at 4.3875. Bears keep an eye on Dec 13, 2023 low of 4.2935 and Mar 4, 2020 low of 4.2870.

  • NBP's Wnorowski said that the government's plan to widen the budget deficit may delay further rate cuts and underpin a "higher for longer" approach of the central bank. The official added that zloty strength helps reduce inflation but not significantly, while not being a threat to exports. Wnorowski warned that trying to put Governor Glapinski on trial would undermine the central bank's reputation and could push POLGB yields higher in the future.
  • POLGB curve runs a tad steeper at typing, while the WIG20 Index has shed 0.3%.
  • Poland's unemployment rate remained at 5.0% in November, in line with expectations.

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.