Free Trial

Zloty Struggles Against Most EMEA Peers Despite Gains For WIG20


The Zloty has pared its losses against the euro, with EUR/PLN last seen +103 pips at PLN4.7074. USD/PLN last changes hands -75 pips at PLN4.5786, consolidating below neutral levels. The Polish currency struggles against regional peers, with PLN/CZK and PLN/HUF both tracking lower, as the Zloty lags all its EMEA peers save for the ILS and TRY.

  • The WIG 20 has added over 2% thus far and is poised to snap a four-day losing streak, which makes the recent decline look like a bull flag formation. Elsewhere in the V4 space, Czechia's PX is in the red, while Hungary's BUX trades ~1.6% higher.
  • Richening impetus is evident in the local government bond space, with yields last seen 20.5-28.1bp lower across the curve. Benchmark 10-year yield sits at 6.78%, the lowest point since late September.
  • The research desk of mBank flags the recent pullback in yields in a tweet and suggests that the government's "spending-cut offensive" seems to be bearing fruit. Last week Business Insider ran a source report noting that the MoF is preparing spending cuts to the tune of a few dozen billion PLN.

To read the full story



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.