- As a reminder from last week there were headlines regarding Polish state development bank, BGK, being progressively more active in FX intervention, helping the central bank's efforts to support the currency.
- EURPLN maintains a bullish tone and the latest pullback is still considered to be corrective. The cross recently cleared resistance at 4.8515, the Jul 12 high. This confirmed a resumption of the uptrend that started late May and signals scope for 4.90 and 5.0019 further out, the Mar 7 high and a key resistance.
- The 20-day EMA has been breached, the next support to watch is 4.7903, the Oct 05 low, which also held well on Friday.
- 1300BST/1400Local: September Core CPI Y/y, est. 10.7%, prior 9.9%; M/m, est. 1.5%, prior 0.8%.
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POLAND: September Core CPI Data, EURPLN Maintains Bullish Tone
Last updated at:Oct-17 07:01By: Jack Lewis
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- As a reminder from last week there were headlines regarding Polish state development bank, BGK, being progressively more active in FX intervention, helping the central bank's efforts to support the currency.
- EURPLN maintains a bullish tone and the latest pullback is still considered to be corrective. The cross recently cleared resistance at 4.8515, the Jul 12 high. This confirmed a resumption of the uptrend that started late May and signals scope for 4.90 and 5.0019 further out, the Mar 7 high and a key resistance.
- The 20-day EMA has been breached, the next support to watch is 4.7903, the Oct 05 low, which also held well on Friday.
- 1300BST/1400Local: September Core CPI Y/y, est. 10.7%, prior 9.9%; M/m, est. 1.5%, prior 0.8%.
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