PLN: EURPLN Probing Trendline Resistance
Jun-06 14:20
Prevailing dollar strength following the US payrolls report has weighed on EM FX, with the zloty lagging the rest of its peers as its post-election underperformance continues. EURPLN is 0.15% higher at typing, with the cross continuing to probe trendline resistance drawn from the November 2024 and April 2025 highs. A break of this level would turn focus towards the Apr 16/Dec 25 highs of 4.3102/4.3114.
- Zloty underperformance is most notable against the Czech koruna following the CPI beat in the Czech Republic earlier in the week. PLNCZK looks set to record its longest losing streak since 2022, with spot currently trading at a near one-year low. Meanwhile, PLNHUF trades just ahead of the April YTD low at 93.88, and is also lower for a seventh consecutive session.
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Historical bullets
STIR: Dec'25 SOFR Put Buyer
May-07 14:18
- +20,000 SFRZ5 95.68 puts, 3.5 ref 56.455 after:
- +4,000 SFRU5 95.62/95.87 put spds w/ SFRZ5 95.87/96.12 call spd strip, 22.5
US TSY FUTURES: BLOCK: Jun'25 5Y Buy
May-07 14:13
- +9,000 FVM5 108-18.25, buy through 108-17.75 post time offer at 1004:44ET, DV01 $386,000.
- The 5Y contract trades 108-17.75 last (+1) vs. 108-18.5 high
US TSY FUTURES: BLOCK: Jun'25 10Y Sale
May-07 14:06
- -13,500 TYM5 111-12.5, sell through 111-13 post time bid at 0950:46ET, DV01 $872,000.
- The 10Y contract trades 111-14.5 last (+4.5) - new session highs. Resistance above at 112-01+ (High May 2)
