3:20 19 August 2025
Euro-zloty seen stable
Economists at Bank Millennium expect the euro-zloty exchange rate to remain in the 4.24–4.28 range in the coming days, while the USD/PLN rate may edge higher. They note that resistance levels for the dollar stand at 3.64–3.65, with support at 3.635.
Markets will be watching geopolitical events, particularly Monday’s meeting in Washington between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky, followed by talks with European leaders. Economists, however, do not anticipate major moves in EUR/PLN despite these developments or the Jackson Hole symposium.
In the domestic debt market, Bank Millennium sees scope for yields to rebound, though gains could be capped by the lack of bond auctions until month-end. The next scheduled issuance is a switching auction next week.
