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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.
PLN
EUR/PLN is trading with a slight bearish bias, albeit it struggles to break out of its recent range. The pair last changes hands at PLN4.7065, down 24 pips on the session, with familiar technical levels still in play. POLGB yields have resumed losses as the earlier rebound failed to bring them back to neutral levels. In the equity space, WIG20 continues to trade on the defensive.
- Poland's Manufacturing PMI is on a recovery trend. It remains above Czechia's readings since October and has now topped Germany as contractionary sentiment eases. S&P Global said that "Polish manufacturers endured a somewhat challenging start to the year" but there are "hopes that the worst of the industrial recession is behind us," with elevated price inflation believed to be "a blip in what otherwise seems a broad disinflationary environment."
Fig. 1: Poland/Czechia/Germany/EZ S&P Global Manufacturing PMI
Source: MNI - Market News/Bloomberg/S&P Global
- Elsewhere, Deputy Finance Minister Sobon told PAP newswire that Poland's GDP growth this year should be about +1.7% Y/Y and called the +4.9% outturn for 2022 "a very good result." He noted that with the proper use of investment funds and EU recovery funds, growth could approach "almost +2.0% Y/Y." Meanwhile, inflation should decelerate from March and average at +9.8% for the full year.
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.
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