Calm before the next currency storm? These events can cause chaos on FOREX! EUR/PLN, USD/PLN, CHF/PLN, GBP/PLN exchange rates – forecasts | FXMAG INVESTOR

Last week exchange rate EURPLN increased to 4.3292 (PLN weakening by 0.2%). Last week, the zloty exchange rate was characterized by limited volatility, which was supported by a poor calendar of macroeconomic events. However, we saw a clear downward trend in the case of course EURUSD, which was a continuation of the trends observed in previous weeks. Weakened dollars against the euro is supported by increased expectations for interest rate cuts. The data from the American labor market published on Friday did not have a significant impact on the currency market.

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Exchange rates

This week is crucial for the zloty exchange rate there will be meetings of the Fed (Wednesday) and the ECB (Thursday), which may contribute to increased volatility on the currency market. In our opinion, this week’s publications from the Polish and global economies will be neutral for the zloty exchange rate.

See also: What an earthquake on currencies: the euro rate dropped by 56 groszy, and the franc was cheaper by PLN 0.36

Intensifying expectations for interest rate cuts

Last week, 2 years old IRS rates decreased to 4.84 (decrease by 15bp), 5-year to 4.36 (decrease by 24bp), and 10-year to 4.52 (decrease by 19bp). Last week, there was a further decline in IRS rates along the entire curve, which was a continuation of the trend from two weeks ago. IRS rates decreased following the core markets, where growing expectations of interest rate cuts by major central banks are reducing bond yields.

See also: Exchange rates of the dollar, lira, franc, euro, pound and krona: forecasts for 2024 are already available

This week is crucial Investors will benefit from meetings of the main central banks: Fed (Wednesday) and ECB (Thursday). We believe that they may contribute to increased volatility of IRS rates. In our opinion, the publications from the Polish and global economies scheduled for this week will be neutral for the curve.

See also: We already know how much you will pay for currencies in 2024

Forecasts of monthly macroeconomic indicators

Forecasts of quarterly macroeconomic indicators

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