__cfduid
Valid: 29 days
It helps us protect the website from threats such as hacker attacks. Used by Cloudflare to recognise trusted network traffic.
__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.
Positive market sentiment and a weaker dollar improve the zloty's situation, and it is practically returning to pre-pandemic levels. The effect of positive sentiment is also a strong weakening of the franc in relation to the euro, which is the cheapest since the second week of January.
The next dose of market stimulation
The trade on Tuesday morning was practically no different from what happened on Monday or last week. Currently, macroeconomic data have a limited impact on the market, but in the absence of significant readings, the more important was the positive attitude related to the opening of economies.
According to Bloomberg, Chancellor Angela Merkel wants to mediate a compromise on the second stimulus package for the German economy. This has clearly improved sentiment in the broader market, slightly strengthened the euro, and deepened the weakening of the dollar.
The dollar below in red
The EUR/USD exchange rate rose to around 1.1185 in the morning, the highest level since mid-March. After crossing the 1.10 limit, the weakening of the dollar did not stop even for a moment, supported by the currently prevailing optimism on the financial market.
The value of the dollar may also be negatively affected by the protests in the US and President Donald Trump's announcement that he is ready to use the army if regional governors do not restore the order. This may ultimately slow down the process of lifting restrictions and restoring economic activity.
The dollar in a weaker condition combined with optimism in the broader market continues to increase the appetite for risk and, as a result, for emerging countries' currencies. The zloty is one of the winners of this sentiment; its quotations clearly gain in relation to the main currencies.
The zloty is getting stronger
The EUR/PLN exchange rate fell to around 4.38, and although it is still far from pre-pandemic levels (around 4.30), it is clearly closer to them than to the highs of the second half of March (almost 4.64). If, in turn, we look at the quotations of the pound, the dollar or the franc in relation to the zloty, we can already talk about the levels before the outbreak of the virus.
The CHF/PLN exchange rate dropped particularly strongly (nearly 1%) until midday, to approx. 4.0767. This is primarily a result of a combination of the two factors mentioned above, i.e. the weakening dollar and still improving market sentiment. They have led to a strong weakening of the franc in recent days, although to this should be added the strengthened euro. The EUR/CHF's quotations, rising today to around 1.0763, reached their highest level since the second week of January, reflecting the dominance of positive sentiment.
Subscribe to our currency newsletter
See also:
The sentiment is getting better, and the zloty is getting stronger (Afternoon analysis 1.06.2020)
Chinese industry surprises (Daily analysis 1.06.2020)
The income of the Americans has been raising the fastest since the war (Afternoon analysis 29.05.2020)
Another day of dollar weakness (Daily analysis 29.05.2020)
Attractive exchange rates of 28 currencies
Live rates.
Update: 30s
Open your free account today
Save your time and money. Create an account for free and discover how much you can gain. Join us today, and start using attractive currency services.
Create free account