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Zloty Weakens, Lags EMEA Peers

PLN

EUR/PLN operates at 4.3166, up 71 pips on the session. A familiar technical picture remains valid, with bulls looking for gains past Apr 16 high of 4.3728, while bears eye Apr 9 low of 4.2527 and the 4.25 figure for initial support. The zloty is the worst performer in the EMEA FX space amid weakness in CE3 currencies.

  • With an underwhelming set of economic activity data for March now in rear view mirror, the focus turns to CPI (Apr 30) and NBP rate decision (May 9).
  • POLGB curve runs a tad flatter, with yields last sitting 1.0bp-2.8bp lower. The WIG20 Index is firmer but yet to test recent cyclical highs.
  • Poland's unemployment rate fell to 5.3% in March from 5.4% prior, in line with expectations.

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