PLN resilient to global risk-averse sentiment

Last week, global risk sentiment weakened, impacting risky assets. However, the Polish złoty showed strength, reaching new highs against the euro and dollar. PMI activity indicators surprised on the downside, raising recession concerns in the eurozone.

The US dollar typically gains during uncertainty, while the Turkish lira performed poorly. The upcoming ECB conference and eurozone inflation data will be closely watched. Despite unfavorable economic news and a strong dollar, the Polish złoty remained resilient. This week's focus will be on Friday's preliminary inflation reading, which is expected to show a significant decline.

Source: ISBnews