MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Zloty Under Pressure Amid Cautious Mood, 1-Yr Basis Swaps Rise

PLN

EUR/PLN changes hands +67 pips at 4.6118, moving away from nearby support from the 20-EMA, which kicks in at 4.5878. On the flip side, the focus falls on Sep 12 high/round figure/61.8% retracement of the 2022 - 2023 downleg at 4.6971/4.7000/4.7072.

  • PLN/EUR 1-year basis swaps have climbed by 8bp to to 149bp today, unwinding some of their 25bp decline registered between Sep 19-21. They are under the microscope since government officials flagged the option of tightening PLN liquidity should the currency continue to depreciate, which they did in October 2022. Spot EUR/PLN has eased from cyclical highs in response to verbal interventions but keeps refusing to enter the 4.40-4.60 range preferred by government officials.
  • POLGB curve runs slightly flatter, with the 5-10 sector leading gains. The WIG20 Index has edged lower, printing its worst levels since May 31.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.