Data from the Polish economy may continue to weaken PLN in the coming week
15:21
The złoty has been losing value against the dollar and the euro primarily due to negative investor sentiment towards emerging markets. In the next week, a series of data from our economy will be released, which could further undermine our currency, predicts Tomasz Kudela, an analyst at ProStream – a currency platform for businesses.
As he pointed out, 'risk-off' was the key phrase in the past week in financial markets, which had a significant impact on currency rates, especially those of emerging markets.
“Deepening problems in the Chinese economy, mainly in the real estate sector, a slower pace of recovery from the CHRL trough, the threat of deflation, and economic slowdown discouraged investors from riskier assets. Benefiting from the negative sentiment towards emerging markets, the dollar gained strength, further driven by good macroeconomic data from the US and the fading prospect of interest rate cuts across the ocean," he stressed.
