Zloty Oscillates Around Neutral Levels

EUR/PLN is virtually unchanged at typing, having unwound its earlier losses, holding a familiar range in the process. The pair last deals at PLN4.6930, with bulls looking for a clearance of Dec 6 high of PLN4.7220. Meanwhile, the recent bearish crossover of the 50-DMA and 100-DMA draws attention to the downside, where Nov 30 low of PLN4.6595 provides the initial target.

• Poland's gov't bond yields are marginally higher across the curve, save for the outperforming 2s. Benchmark 10-year yield tested the 6.70% mark as it's moving away from recent cyclical lows.
• Media reports suggest that Poland's ruling Law and Justice party will table legislative proposals to unblock suspended EU funds, even at the cost of certain concessions to Brussels.
• Elsewhere, Law and Justice is expected to defend Justice Minister Ziobro of Solidarna Polska party during a no-confidence vote today, despite tensions over how to approach talks with the EU.
• Local data highlights this week include current account/trade balance (Wednesday), final CPI inflation (Thursday) and core CPI (Friday).