Non-farm payrolls out today!

The zloty fell in value throughout the day yesterday. In the morning the EUR/PLN rate was 4.6450 against 4.6600 at 4 p.m., while the dollar was quoted at 3.7900 against 3.8100, respectively. The deviation from the old parity at the end of the day was 0.3%. Generally, the domestic market was quite uneventful, and the zloty followed fluctuations in the EUR/USD rate. Today, as the week comes to an end, we may expect some profit resulting from a weaker PLN. However, the international market was much more interesting. Investors were awaiting important macroeconomic data from the USA regarding initial cobless claims, factory orders and the ISM non-manufacturing. As it happened, all the the figures released turned out worse than estimated, resulting in the EUR/USD changing from 1.2200 to 1.2250. Today is likely be the key day for the foreign exchange market as far as the EUR/USD pair is concerned as the most important economic data of the month will be released - non-farm payrolls. Analysts expect the figure to be around 225K against 288K last month. Undoubtedly, short term fx rates will depend on these figures, so watch out! www.tms.pl