1 May 2015
EUR/PLN still points southwards to 3.90 – Rabobank
FXStreet (Edinburgh) - Strategist at Rabobank Piotr Matys expects the Polish zloty to gather further traction in the upcoming months.
Key Quotes
“A sustainable break below the 4.00 threshold (tested in April already) remains our favoured scenario for EUR/PLN, with the 3.90 level as a potential target in Q2”.
“Apart from ECB-QE, the downside trend in EUR/PLN is also supported by fairly positive prospects for the Polish economy”.
“The main factors that could trigger a squeeze in EUR/PLN are a collapse of the fragile ceasefire in eastern Ukraine or lack of progress in the talks between Greece and its creditors”.
“Retracement in USD/PLN could extend to 3.62~ as prospects for a Fed hike in June faded”.
Key Quotes
“A sustainable break below the 4.00 threshold (tested in April already) remains our favoured scenario for EUR/PLN, with the 3.90 level as a potential target in Q2”.
“Apart from ECB-QE, the downside trend in EUR/PLN is also supported by fairly positive prospects for the Polish economy”.
“The main factors that could trigger a squeeze in EUR/PLN are a collapse of the fragile ceasefire in eastern Ukraine or lack of progress in the talks between Greece and its creditors”.
“Retracement in USD/PLN could extend to 3.62~ as prospects for a Fed hike in June faded”.