The zloty got off to a positive start of the
session on Friday as the upbeat regional
sentiment and softer performance from the
US dollar after the Philly Fed survey pushed
the EUR/PLN pair into the 3.85-3.86
territory. Eventually pre-weekend profit
taking kicked in though, and the pair
retreated from the fresh 2-month highs
against the euro back into the pre-opening
area around 3.8650.
The eco calendar is very thin today with only
the manufacturing climate index on the
agenda today. The report has not been
much of a market mover for some time now
though, so the zloty will most likely follow in
the footsteps of the forint ahead of the NBH
meeting, which starts this week’s spur of
CE4 central bank rate decisions.
(CSOB - Investment research)