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Zloty Softens Amid Local Public Holiday

PLN

EUR/PLN has edged higher and last deals +79 pips at 4.4608, with liquidity limited by a public holiday in Poland. Familiar technical contours remain in play, with bulls looking for a move through the 50-EMA at 4.5148. On the flip side, bears see Oct 17/Jul 31 lows of 4.4096/4.3986.

  • Looking ahead, the NBP will announce its monetary policy decision next Wednesday (November 8th). The announcement will likely be followed by the usual press conference with Governor Adam Glapinski.
  • This comes after Poland's inflation posted another sharp decline in October, but local sell-side analysts warned that price growth may become more sticky from now on.
  • Participants await the outcome of ongoing coalition talks between the three pro-EU parties which are expected to form the next government.

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