EUR/PLN: Polish Zloty is heading for new gains – ING
Source Fxstreet
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.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Forecast: XAU/USD climbs above $4,250 as Fed rate cut weakens US DollarGold price (XAU/USD) rises to seven-week highs near $4,275 during the early Asian session on Friday. The precious metal extends its upside as the US Federal Reserve’s (Fed) quarter-point rate cut drags the US Dollar (USD) lower.
Gold price (XAU/USD) rises to seven-week highs near $4,275 during the early Asian session on Friday. The precious metal extends its upside as the US Federal Reserve’s (Fed) quarter-point rate cut drags the US Dollar (USD) lower.
XRP’s Price Action Flashes a Warning Even as ETF Flows Stay PositiveXRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
XRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
Gold price (XAU/USD) edges lower below $4,350 during the Asian trading hours on Thursday. The precious metal retreats from seven-week highs amid some profit-taking and a rebound in the US Dollar (USD).
Bitcoin ascended to $90,000 before a swift correction, impacting both long and short positions.Liquidity maneuvers continue to dominate BTC's short-term price dynamics, with recent sessions squeezing short sellers.
The Bank of Japan (BoJ) will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT.
