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Zloty Stays Rangebound Ahead Of Key Meetings At Presidential Palace

PLN

EUR/PLN remains in consolidation phase and last changes hands at 4.4612, slightly higher on the day but within the boundaries of yesterday's trading range. Technically, topside focus falls on the 50-EMA, which kicks in at 4.5300. On the flip side, bears look for losses towards Oct 17/Jul 31 lows of 4.4096/4.3986.

  • Leaders of pro-EU opposition parties are set to deliver a joint statement at the top of the hour, reaffirming their readiness to form a coalition government. Their statement will precede a series of meetings with the President, during which the head of state will ask about each party's policy agenda and gauge the viability of different coalition arrangements.
  • NBP's Litwiniuk said that he doesn't see grounds for further monetary easing at this stage and drew attention to the November macroeconomic forecast, which in his view may show signs of GDP rebound.
  • Poland's unemployment rate for September came in at 5.0%, in line with consensus forecast and the preliminary estimate from the Ministry of Family, Labour and Social Policy.

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