__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.
Risk aversion returned to the markets. Failed rebound in the European stock markets. The zloty made up for its losses after unexpected cut of the credit rating by the Standard & Poor's agency.
After negative beginning of the session, the stock indexes tried to rebound. However, the scale of the move was narrow. Eventually, the rebound failed and the indexes returned near morning levels, close to the Friday's close. The German DAX dropped 0.5 percent.
The currency market developments were similar. The euro after short heightened volatility in the begging of the session, it stabilized against the dollar. Later, the EUR/USD started to rise as the risk aversion increased. Moreover, the probability of the interest rate hikes in the US dropped, which weakened the dollar. Today the volatility is limited as the US investors are absent due to holiday.
The global market sentiment is negative as due to anxiety concerning the world economy. Information that Iran returned to the oil market hit the oil price and it dropped below the level of 28 dollars for the first time since 2003. Drop in the oil price and other commodities hurts the emerging market economies.
Moreover, China is an additional problem. Although the stocks in Shanghai ended slightly higher, the market was very volatile and it even dropped below the August 2015 lows. Given the situation, permanent stabilization in the market is not very likely at the moment.
The zloty made up for losses
Last Friday the Standard & Poor's agency cut Poland's rating to BBB+ from A-. It was large surprise as the rating outlook was positive. Currently, the rating outlook is negative, thus the grade may be lowered within two years.
The S&P said the decision was made due to institutional instability in Poland that may be further deteriorated. The agency cited a threat that the National Bank of Poland independence may be limited. Moreover, the S&P agency expects the government deficit t 3.2 percent GDP against the government forecast 2.8 percent. As a result, the risk that the excess deficit procedure may be imposed on Poland after it was dropped in 2015.
After the decision was announced, the zloty posted severe losses. The euro moved around 4.49 - the highest level in four years. The dollar moved above 4.10 for the first time since 2003. The franc moved above 4.10. It was the highest level since the Swiss National Bank dropped the currency peg a year ago.
On Monday the zloty exceeded drop. However, later the move was limited. And in the second part of the day, the Polish currency recouped some losses. Nevertheless, this move was only a correction. Even if the zloty rises in the short term, the scale of the appreciation will be limited. The euro may drop to the 4.40 level.
In addition, the S&P decision will limit the probability of interest rate cuts. The new Monetary Policy Member have not been eager to cut the credit cost. In the current circumstances, a similar scenario is even less probable. This factor may stabilize the zloty in some degree. However, the probability of a stronger zloty is currently very limited.
See also:
Daily analysis 18.01.2016
Afternoon analysis 15.01.2016
Daily analysis 15.01.2016
Afternoon analysis 14.01.2016
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.