__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 euro extended yesterday's decline. Industrial production neutral for the Federal Reserve and the dollar. A better than expected labor market report did not help the zloty.
The US industrial production was in line with the forecast. It dropped 0.2 percent on a monthly basis. However, the prior month’s reading was revised up to minus 0.1 percent from the minus 0.4 percent that was reported initially. The report did not affect the dollar.
The latest reports concerning the US economy supported the tightening scenario before the end of the year. Although industry performance is average and retail sales reading was weak, the inflation growth surprised positively. In addition, the labor market performance is solid. Given the situation the recent weakness of the dollar will not last in the longer term.
Pressured euro
Inflation in the eurozone was in line with the flash estimate. It dropped 0.1 percent in September. In the prior month inflation increased 0.1 percent. This means that the deflation is back. International trade also missed the expectations. The surplus dropped to 19.8 billion euros from 22.4 billion euros in the prior month. A weaker result than the 22.2 billion euros that was forecast.
Low inflation and reports pointing at a slowdown support speculations that the European Central Bank will expand its bond buying program. Although the possibility of additional tools has been broadly discussed by the ECB officials, yesterday's comment from Ewald Nowotny affected the euro.
Investors believe that a similar scenario is feasible. As a result, in spite of quite vague remarks from Nowotny (more on the issue in our previous commentary) the market reaction was significant. Especially in the situation, when the euro hit the highest level since the end of August.
Solid reports
The Polish labor market is in solid shape. The employment growth stood at 1 percent on a yearly basis. An identical result like in the prior month. And the wage growth exceeded the forecast. It increased to 4.1 percent from the previous year. A result better than the 3.4 percent that was projected.
Steady wage growth should please the Monetary Policy Council. It supports consumption and rebound in the inflation rate. In the context of the latest weak data on inflation this factor will ease pressure on the MPC to take additional actions to support inflation.
The zloty gained slightly after the reading. However, the move range was not significant in comparison with today's overall slide.
The zloty and other emerging market currencies were hit due to a rising probability that the Federal Reserve will eventually increase interest rates this year. This factor will negatively affect these currencies in the longer term. Moreover, the information on the incidents on the Turkish border increased aversion against risk assets.
The final week before the general elections in Poland will be determined by heightened political risk, but it is likely that this factor will only be transitory. However, if it turns out that there will not be a majority government, the impact of this factor may be stronger. Given the situation, the Polish currency may extend the prior week's slide.
See also:
Daily analysis 16.10.2015
Afternoon analysis 15.10.2015
The zloty index by Cinkciarz.pl. October 2015. Part 2
The zloty index by Cinkciarz.pl. October 2015. Part 1
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.