Currency report: Mixed news in the US, but złoty stays strong

The fall of the US broke the significant levels of $1.3378 and $1.3409. Until Friday, everyone thought that the US economy was in a downward spiral and awaited more information regarding the unemployment rate, which was expected to increase. To everyone's surprise, the unemployment rate fell to 4.4 percent. The EUR/USD market fell to the borders of $1.3378, reflecting this.

The Polish złoty is continuing a rise which was initiated last week. What must be mentioned is that the appreciation is held back by factors like the upcoming Easter holidays and the intervention of the Slovakian central bank to weaken the korona. The strengthening złoty could be observed on the USD/PLN and EUR/PLN markets, which broke significant support levels. The dollar reached a low of zł.3.8394 while the euro reached a low of zł.3.8394. Corrections could soon be observed, and all that is left to us is to anticipate their coming and how big of an impact they will leave.

Omar Arnaout X-Trade Brokers Dom Maklerski SA