September 2, 2020
The Polish economy shows signs of slowdown
The upward movement indicates the weakening of the Polish zloty against the US dollar. In August, the Markit Poland Manufacturing PMI was 50.6 points. This is less than both the forecast (52.9) and the July indicator (52.8). In August, inflation in Poland amounted to 2.9% in annual terms. This is much higher than the rate of the National Bank of Poland, which now stands at 0.1%. In the US, the ISM Manufacturing PMI rose to 56 points in August from 54.5 in July. The Markit US Manufacturing PMI final in August was 53.1. Recall that the next meeting of the Central Bank of Poland will be held on September 8 (next week). No rate change is expected.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Buy | |
| MACD | Buy | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Neutral |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 3.76 |
| Stop loss | Below 3.61 |
Market Analysis provided by IFCMarkets.com
