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Zloty Trades Flat In Anticipation Of NBP Rate Decision

PLN

EUR/PLN treads water amid the absence of notable domestic catalysts. The rate last deals at 4.2903, looking for fresh drivers. The technical picture remains broadly unchanged, with bears eyeing support from recent cyclical lows at 4.2749. Bulls take aim at the 50-EMA (4.3187) and a break here would expose Feb 7 high of 4.3564.

  • The NBP will announce its rate decision tomorrow and is widely expected to stand pat on rates. Governor Adam Glapinski will explain the decision and discuss the current macroeconomic conditions during his press conference on Friday. We discuss these matters in more detail in our preview.
  • POLGB yields are slightly higher across the curve, taking their cue from core FI space and moving in sync with regional peers. The WIG20 Index sits 0.4% above neutral levels.

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