BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Zloty Outperformance Sees EURPLN Partially Reverse Tuesday’s Rally

CEE FX
The Polish zloty is leading gains in the CE3 region (EURPLN: -0.54%), while both the Hungarian forint and Czech koruna are flat against the euro at typing having gradually recouped overnight losses throughout the European session. However, despite today’s zloty outperformance, EURPLN still sits lower on the week overall owing to the substantial rally in that cross earlier in the week. EURHUF and EURCZK, meanwhile, are little changed on the week.
  • Recent gains in EURHUF highlight a strengthening bullish theme and suggest that the corrective pullback between Mar 12 - Apr 5 is potentially over. A clear break of initial resistance at 395.77, the Apr 2 high, could expose key resistance and the bull trigger at 399.75, the Mar 12 high. On the downside, a break of 388.34, the Apr 5 low, is required to instead reinstate a bearish theme.
  • EURPLN has recently reversed higher and the recovery accelerated on Tuesday. This week’s gains have resulted in a break of resistance at 4.3268, the Mar 20 high. The breach highlights a short-term reversal and signals scope for a climb towards the 4.40 handle. Initial support lies at 4.3045, the 50-day EMA. Key support is at 4.2527, the Apr 9 low.
  • For EURCZK, a return above the 50-DMA, last intersecting at 25.318, could expose the Feb 15 high of 25.519. On the downside, a dip through the Mar 18 low of 25.087 may instead signal scope for an extension lower towards the round figure of 25.000.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.