The zloty started the week higher against the major currencies. The Swiss franc is about 5 cents cheaper than it was on Friday. The discount also applies to euros and dollars. According to the chief economist of the XTB brokerage, Przemyslaw Koycé, the strengthening of the Polish currency was mainly affected by the soothing mood around the energy crisis.
– On Monday we notice a significant increase in the zloty, which in my opinion is associated with the calming mood around the energy crisis in Europe. Previously, the market was paralyzed by fear of it Gazprom He will close the gas tap and, as we know, has resumed the delivery of this raw material to Europe. I treat it as a Kremlin game, which does not want to be so predictable – said Przemyslav Kojic, chief economist at brokerage XTB for PAP Biznes.
On the day, the zloty rose against the euro, dollar and franc by more than 1 percent. However, increases slowed after 4 pm, and Gazprom announced on Monday afternoon that The second turbine in the Nord Stream 1 . gas pipeline will be decommissioned This will further reduce gas supplies to Europe. The restriction is effective from Wednesday at 6.00. The amount of gas transported will be reduced to only 20 percent. maximum bandwidth.
According to the month of April, it is the global issues that are currently affecting the zloty market. – We now have a “thaw” in this area – the gas is back, everyone breathed a sigh of relief, and the investors playing for the apocalyptic scenario withdrew from the market. This also leads to increases in the EUR/USD currency pair, which also contributed to a stronger increase Increase in interest rates from the European Central Bank. The economist said that such an environment is favorable for the zloty.
For me, not much has changed when it comes to foundations and direction. On the EUR/PLN we have a long term stable uptrend that has taken the form of a channel of some sort. At the moment, we are more or less back at the center of this channel, and therefore, from this perspective, little has changed – added the economist XTB.
Euro, dollar and franc – quotes on July 25
On Mondays about 17.40 euros cost about 4.72 zlotys. Over the past 10 days, the European currency has depreciated against the zloty by 1.82%.
You had to pay approximately 4.62 PLN for the US dollar. It’s 22 less shivering than it was on July 13 this year.
The price of the Swiss franc is 4.78 Polish zloty. While the CHF/PLZ pair was on July 13th at 4.93.
Main image source: stock struggle
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