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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Zloty Sell-Off Continues, PLN/CZK Tests Key Support
EUR/PLN has extended gains but the rally paused just ahead of the 4.50 figure for now. The rate last sits +430 pips at 4.4925, with gains facilitated by thin liquidity, as Polish markets are shut for a public holiday. Wider market sentiment remains in the driving seat, but the zloty has now landed at the bottom of the EMEA pile. From a technical perspective, bulls look for a move towards Jul 6 high of 4.5040, located just above the 23.6% retracement of the Feb 14 - Jul 31 sell-off at 4.4930.
- PLN/CZK has been under pressure, shedding 394 pips so far to last sit at 5.3683. The rate is testing support from the 50-DMA/23.6% retracement of the Feb 15 - Aug 7 move at 5.3703/5.3644. A clean breach of these levels would highlight potential for a deeper correction. Hawkish CNB minutes released last Friday have applied pressure to the pair, especially when contrasted with dovish NBP expectations.
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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.