The new week on the currency markets started very calmly. From Monday, the zloty was slowly making up for successive losses against the currencies, which it suffered mainly a week ago, last Monday. Tuesday morning – no changes. On Wednesday – also, although the pace was weakening and corrections are at the level of PLN 0.01 in favor of the zloty. Is this a good time to buy currencies if someone wants to protect their savings in this way?
It is similar in other markets. On commodity exchanges, oil and gold prices drop slightly, stock exchanges open the week with slight increases in stocks and indices.
This Monday trend continues on Tuesday and Wednesday morning.
Hopes for a further normalization of the situation are related to the anticipation of the end of the war in Ukraine.
An important role for the currency market was also to play the US Fed meeting (the equivalent of the Polish MPC), which was to raise interest rates for the USD. It actually happened.
The Fed raised interest rates by 25 basis points, the first hike since December 2018. However, they are still very low. The key will be whether the Fed perseveres in its announcements of changes, which are far-reaching. At the moment, the rate hikes are being communicated at basically every meeting this year.
As a result, on Thursday, March 17 in the morning, the currency markets are relatively calm, and the zloty is still recovering from losses.
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