__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.
There was no strong growth of the US currency; the EUR/USD quotations oscillate around 1.15. However, a clear drop below this level may weaken the zloty and lead to the return of EUR/PLN quotations above 4.30.
Polish currency under pressure?
Thursday was relatively calm in the currency market. The dollar remained stronger after yesterday's publication of minutes from the last Federal Reserve meeting. Although the dollar index (DXY), which measures its value in relation to the six basic currencies, rose to 95.5 points, the highest level since October 9th, the scale of change was limited. The EUR/USD quotations were still at a level of 1.15.
Weekly data from the US labour market changed slightly. The number of initial jobless claims turned out to be 1,000 lower than expected and amounted to 210,000. The number of insured unemployment also dropped to 1.64 million. This is the lowest level since August 1973 and 15 thousand lower than the median of market expectations. This is another positive sign from the labour market in the USA, although the claims are close to the lowest levels in many decades and their impact on the dollar's quotations is limited.
No clear dollar appreciation and stabilisation of prices at the 1.15 limit helped the zloty which did not incur greater losses due to weaker data from the Polish economy. The changes were limited to about 0.2% in relation to the main currencies, but a gradual decrease in the zloty's basket could be observed. The EUR/PLN quotations systematically increased from 4.29 at the beginning of the day to 4.30 at around 4.30 p.m. The zloty's condition will depend mostly on the EUR/USD quotations in the following hours. If we observe a deeper decline of its exchange rate below 1.15, it may also cause supply pressure on the zloty.
Tomorrow's preview
At 10:00 a.m., the Polish Central Statistical Office (GUS) will present data on retail sales in Poland for September. The median of market expectations indicates its growth by 7.6% a year, compared to 9.0% a month ago. This data may turn out to be crucial for the Polish zloty, as this week all important publications of macro data from the Polish economy disappointed market expectations. Another set of worse than expected data may strengthen the argument that Poland's growth should be cooled down and, as a result, weaken the zloty at the end of the week, especially if we observe a strengthening of the dollar at the same time.
Subscribe to our currency newsletter
See also:
Hawkish Fed's statement (Daily analysis 18.10.2018)
Dollar slightly stronger (Afternoon analysis 17.10.2018)
Inflation falls in the UK (Daily analysis 17.10.2018)
Stable zloty despite weak data (Afternoon analysis 16.10.2018)
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