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PLN: Zloty Unfazed By Reassuring Implications Of Retail Sales Data

PLN
PolandCEEMEAEM BulletBulletEmerging Market News

EUR/PLN remains in the 4.25 area, last barely changed on the day at 4.2575, with bears looking to challenge this psychologically significant zone. While the 4.25 figure was temporarily pierced on several occasions, the rate has failed to close below there or move through Jul 15/YtD low of 4.2471. On the topside, the 20-EMA (4.2784) provides the initial layer of resistance.

  • Poland's retail sales topped expectations in November for the second consecutive month, assuaging concerns about the dismal September reading, which may have been a one-off.
  • The Foreign Ministry summoned the Hungarian ambassador after Budapest granted asylum to a fugitive former Deputy Justice Minister accused of committing fraud while serving in the previous government.
  • POLGB yields are mostly lower, save for 5s, last sitting -4.6bp to +0.9bp. The WIG20 Index has faltered by 1.2%, printing its worst levels in a few weeks.
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EUR/PLN remains in the 4.25 area, last barely changed on the day at 4.2575, with bears looking to challenge this psychologically significant zone. While the 4.25 figure was temporarily pierced on several occasions, the rate has failed to close below there or move through Jul 15/YtD low of 4.2471. On the topside, the 20-EMA (4.2784) provides the initial layer of resistance.

  • Poland's retail sales topped expectations in November for the second consecutive month, assuaging concerns about the dismal September reading, which may have been a one-off.
  • The Foreign Ministry summoned the Hungarian ambassador after Budapest granted asylum to a fugitive former Deputy Justice Minister accused of committing fraud while serving in the previous government.
  • POLGB yields are mostly lower, save for 5s, last sitting -4.6bp to +0.9bp. The WIG20 Index has faltered by 1.2%, printing its worst levels in a few weeks.