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CFD Trading Rate Euro vs Polish Zloty (EURPLN)
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Related news
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13.02.2024 09:25EUR/PLN: Polish Zloty is heading for new gains – ING
EUR/PLN has broken 4.3200. Economists at ING analyze the pair’s outlook.
Full of hope for new gains
EUR/PLN touched 4.3000 briefly in December. Otherwise, it's a level last seen before Covid. We repeatedly mention long PLN positioning here, which is and will be a long-term problem for further PLN gains.
On the other hand, the short end of the IRS curve is already at levels prior to September's surprise National Bank of Poland rate cut of 75 bps. This implies decent support for the currency compared to HUF and CZK.
Thus, if the market doesn't fall for the false hope of rate cuts after Thursday's inflation print, we see this week as an opportunity to test 4.3000 again.
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07.02.2024 09:57EUR/PLN: Sideways outlook for the Zloty with negative bias – Commerzbank
Poland’s central bank (NBP) announces its monthly rate decision. Economists at Commerzbank analyze Polish Zloty (PLN) ahead of the meeting.
NBP meeting not of much interest
It is unanimously predicted by all surveyed analysts that the central bank will leave its benchmark interest rate unchanged at 5.75%. A pause until (at least) March is the official guidance from NBP, although currency strength and falling inflation could have potentially forced the bank’s hand.
The statement and press conference are unlikely to bring added interest either, for now. We will likely hear repetition that the current interest rate level is adequate for meeting inflation target.
Because of rising political uncertainties, we see a sideways outlook for the Zloty with negative bias.
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