__lc_cid
Valid: 3 years
Necessary for proper functioning of the chat available on the website.
__lc_cst
Valid: 3 years
Necessary for proper functioning of the chat available on the website.
rc::a
Valid: It does not expire
Cookies to correctly distinguish between human and bot-generated traffic.
rc::b
Valid: 1 session
Cookies to correctly distinguish between human and bot-generated traffic.
rc::c
Valid: 1 session
Cookies to correctly distinguish between human and bot-generated traffic.
NID
Valid: 6 months
Records a unique number to recognise the device you are using. It is used for advertising.
_ga
Valid: 2 years
Registers a unique user number to collect statistical data about how you use our website.
_gat
Valid: 1 day
Used by Google Analytics to reduce queries. Reduces the amount of statistical data collected.
_gid
Valid: 1 day
Registers a unique user number to collect statistical data about how you use our website.
yt-player-bandwidth
Valid: It does not expire
Determines the best video quality based on your device and the Internet connection used.
yt-player-headers-readable
Valid: It does not expire
Determines the best video quality based on your device and the Internet connection used.
CINKCIARZ_FX
Valid: 1 session
Maintains user sessions.
csrfToken
Valid: It does not expire
Protection against csrf attacks.
user
Valid: It does not expire
Stores information that indicates whether the user is from the USA.
browserId
Valid: It does not expire
Required for trusted browsers to function properly.
collect-bank-#
Valid: It does not expire
usłudze Collect. Remembers the last chosen bank in the Collect service.
collect-country-#
Valid: It does not expire
Remembers the last chosen country in the Collect service.
collect-currency-#
Valid: It does not expire
Remembers the last chosen currency in the Collect service.
social_offer_top20_currency-#
Valid: It does not expire
Remembers the last chosen currency in the Social transactions service (Top 20 List).
social_offer_exchange_buy_fc-#
Valid: It does not expire
Remembers the last chosen currency in the Social transactions service (First currency to buy).
social_offer_exchange_buy_sc-#
Valid: It does not expire
Remembers the last chosen currency in the Social transactions service (Second currency to buy).
social_offer_exchange_sell_fc-#
Valid: It does not expire
Remembers the last chosen currency in the Social transactions service (First currency to sell).
social_offer_exchange_sell_sc-#
Valid: It does not expire
Remembers the last chosen currency in the Social transactions service (Second currency to sell).
#-service-popup
Valid: It does not expire
Remembers choosing "Do not show this message again." when changing providers.
missing-required-fields-form-#
Valid: It does not expire
Records information that the missing data form has been shown to the user.
The positive sentiment continues at its best. Optimism about lifting restrictions, hopes for vaccines and surpassing symbolic barriers support an increased appetite for risk. The dollar clearly loses, while the zloty gains due to positive sentiment.
Race for vaccine and geopolitics
The worst is over. This conclusion could be drawn by looking at today's market behaviour: another day of market growth, the sale of the dollar and increased demand for emerging countries' currencies highlighted a greater appetite for risk. Optimism comes primarily from the gradual lifting of restrictions in the world and also from the hope that the COVID-19 vaccine will come quickly.
Although this euphoria seems a bit premature and too strong, it is also not completely unjustified. The world's largest economies have invested enormous resources in creating a coronavirus vaccine. The White House administration has called the operation to speed up the process "Operation Warp Speed". China is also participating in this race to create the vaccine as soon as possible, and President Xi has announced that their vaccine will be globally available (a probable pinch to the US, which was the first to seek the vaccine).
Possible tightening of rhetoric
This leads to another issue that the market is currently - at least for the time being - ignoring: geopolitics. China has five vaccines in different phases of human testing (most of all countries). Creating an effective medicine would improve China's position in the international arena, especially in relation to the USA. And China's relations with the US seem to be deteriorating as the US presidential election approaches (November).
The current potential threat to further tighten rhetoric between the powers is the Hong Kong issue and the imposition of a new security law by China. The increase in tension between the US and China is currently not "in price" and is likely to be something the market may have to price in the weeks and months ahead.
Only optimism
Today, however, optimism is valued above all, which was also strengthened by approaching and/or exceeding certain technical limits. The dollar lost to most currencies today. The EUR/USD exchange rate reached almost 1.10 in the afternoon (about 1.0990 in 1.5 hours after the start of trading on the New York Stock Exchange). The main US stock exchange index S&P500 exceeded 3 thousand points and the 200-day moving average, and the last time it was above its level was in late February.
With these good sentiments, the zloty was also gaining. The Polish currency has been the strongest in relation to the euro (approx. 4.43 PLN), the dollar (approx. 4.03) and the franc (approx. 4.16) since mid-March; the pound, in turn, has for the first time fallen below 5 PLN (approx. 4.98) since the last days of March. Changes in the zloty's quotations are mainly due to external factors, which are not necessarily permanent. Increased risk appetite may remain for some time as the market looks beyond the horizon of the pandemic, but increased geopolitical tensions, commercial issues or macro data that will shed more light on the shape of the return path may quickly modify this positive sentiment.
See also:
High level of optimism (Daily analysis 26.05.2020)
Positive sentiment at risk (Afternoon analysis 25.05.2020)
German companies with optimism for the future (Daily analysis 25.05.2020)
Limited changes, but uncertainty remains (Afternoon analysis 22.05.2020)
Attractive exchange rates of 28 currencies
Live rates.
Update: 30s
Download our app
Stay tuned and make managing your favourite currency services faster, easier, and more convient. Wherever you are.