POLAND: Nawrocki & Tusk To Face Off At Cabinet Council Meeting
Aug-27 06:58
- President Karol Nawrocki and Prime Minister Donald Tusk will face off at a Cabinet Council meeting this morning. The President's chancellery said that the meeting will be devoted to the fiscal situation, the government's plans for implementing strategic investments, such as the Central Communication Port and nuclear energy, and the protection of domestic agricultural sector. TVN24 reported that the column with ministers has already departed for the Presidential Palace.
- The Cabinet Council is a meeting of the full Cabinet chaired by the President. It does not have any formal executive powers, but the President may call such meetings at their discretion for consultative purposes.
- Nawrocki's veto for the so-called 'Ukraine bill' ignited tensions in relations with Kyiv and sparked concerns at home. The legislation would have extended benefits for Ukrainians that expire at the end of September. The Ministry of the Interior and Administration said that the President's veto may generate administrative costs to the tune of PLN8bn.
- Government spokesman Adam Szłapka said that the Cabinet will hold a meeting dedicated to the 2026 budget tomorrow, with Finance Minister Andrzej Domański set to hold a press conference afterwards. Szłapka added that the government will prepare legislation freezing household electricity prices by September 8 and will also work on revised law on aid for Ukrainians.
- President Nawrocki invited Lithuanian, Latvian, Estonian and Danish leaders for a 'mini Baltic summit' on regional security tomorrow ahead of his upcoming trip to Washington DC.
- The Finance Ministry holds a switch auction, offering to sell bonds of OK0128, PS0730, WZ0930, DS1030, IZ0831 and DS1035 series and buy back bonds of K1025, WZ0126, OK0426 and DS0726 series.
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EURJPY TECHS: Bulls Remain In The Driver’s Seat
Jul-28 06:58
- RES 4: 177.08 2.000 proj of the Feb 28 - Mar 18 - Apr 7 price swing
- RES 3: 175.43 High Jul 11 ‘24 and a key medium-term resistance
- RES 2: 174.86 1.764 proj of the Feb 28 - Mar 18 - Apr 7 price swing
- RES 1: 174.00 Round number resistance
- PRICE: 173.63 @ 07:57 BST Jul 28
- SUP 1: 171.47 20-day EMA
- SUP 2: 170.81 Low Jul 11
- SUP 3: 169.77 Low Jul 7
- SUP 4: 168.76 50-day EMA
A bullish trend condition in EURJPY remains intact and the cross continues to appreciate. A fresh cycle high today, maintains the positive price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position. Sights are on the 174.00 handle next. Support to watch lies at 171.47, the 20-day EMA. A clear breach of this average would signal scope for a corrective pullback
GILTS: Opening calls
Jul-28 06:58
Gilt calls, 91.55/91.58.
EQUITIES: Attention on The EU Open
Jul-28 06:57
Some attention on the Equity Cash Open, the VGU5 hasn't managed to even test the July high, and for the SX5E, that level seems some way away still.
Nonetheless, initial resistance in SX5E is at 5404.32.
- Calls: Estox 50: +1.39%, Dax: +1.28%, CAC: +1.34%, FTSE +0.55%, SMI +0.73%.
