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The last trading hours in the FX market have brought a clear appreciation of the dollar (EUR / EUR decline). USD) after the release of US data. inter alia The reading of the PPI for the month of June fell above expectations, boosting expectations for two further increases in EDF rates later this year. The strengthening of the dollar has traditionally resulted in the conquest of supply pressure on emerging currencies, including PLN.
The zloty slightly revised the recent increases – EUR / PLN rebounded from 4,350 PLN to 4,3350 PLN today. Locally, it is worth mentioning the MPC of yesterday, where the Council did not change the rates as expected. However, during the conference that followed the meeting, a statement was made suggesting that the Monetary Policy Council was awaiting movements from the ECB and that this would be a signal of the need to adjust the national monetary policy . The President of the National Bank of Poland also spoke about recent changes to the PLN, saying that the zloty has a very strong foundation and that the recent changes (including vis-à-vis the USD) have not changed. have not had a significant impact on the economy. In a broader context, the zloty remains under the influence of external factors.
In today's session, there are no important macroeconomic publications of the country. In the general market, it is worth taking a closer look at publications on inflation (including the US CPI). In addition, in the calendar for today, we publish the minutes of the meeting of the ECB in June
From the market point of view, yesterday's drops on PLN n ' have not significantly changed the technical infusion systems. A significant support area in the order of 4.3150 PLN and USD / PLN around 3.66 PLN is visible on EUR / PLN.
Konrad Ryczko
Analyst
Securities Broker
Department of Consulting and Market Analysis
Bank Dom Maklerski Ochrony Środowiska SA
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