PLN consolidates slightly on wave of optimism from US

Friday morning trading on the FX market brought a slightly stronger Polish zloty along with an attempt to rebound on Eurodollar. There is a rise in optimism after recent US reports.

First, US President Donald Trump presented the program ‘3-stage frostbite of the US economy.’ Then there were reports that Gilead Sciences is close to developing a treatment method for COVID19. The company itself suggests that it is too early to say that this method will be widely available until the end of April.

Nevertheless, investors from the US received a package of positive news, which allowed them to raise futures on American indices, and indirectly also affects the mood in Asia (Nikkei is growing over 2.5 percent).

From a market perspective, EUR / PLN is still hovering over PLN 4.5.

(Konrad Ryczko - DM BOŚ)