The Polish zloty continued to hug tight ranges in the 3.82 area on Tuesday, as investors sat sidelined for the second day in a row this week ahead of the first batch of eco releases this month. The eco calendar is heavy next week just to mention the C/A numbers on Monday, the CPI figures and wage growth data on Tuesday and the industrial output PPI numbers on Friday. With earlier election off the agenda the EUR/PLN pair will probably remain stuck to the 3.80-3.84 range till then. The president’s final decision concerning the snap poll will be announced sometime before February 14 and should come into the center of attention as well.
As for today’s trading the regional sentiment and Eurodollar will remain the driving force for the zloty with the domestic eco calendar empty and politics not yet back into focus.
(CSOB - Investment research)