By IFCMarkets
Ready for the publication of inflation data in Poland
Such a movement means weakening of the Polish zloty against the euro. Now the rate of the National Bank of Poland (NBP) is 1.5%. The next meeting of NBP is to be held on April 8. Lower rates can have a negative impact on the zloty exchange rate, as the country has high inflation. In January, it amounted to 4.4% in annual terms, which is the highest since December 2011. The NBP was even forced to raise the official inflation forecast for 2020 to 3.7% from 2.3% in 2019. At the same time, Poland lowered the forecast for the growth of their GDP to 3.2% this year from 4% last year. February inflation data in Poland will be released on March 13 and may affect the zloty rate.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 4.336 |
| Stop loss | Below 4.19 |
Market Analysis provided by IFCMarkets
