The zloty is getting weaker. The dollar is waiting for a signal from the Fed.

On the currency market, we can already see a subtle but consistent tendency for the Polish zloty to weaken. The euro exchange rate is cautiously moving towards towards the key level, which is the PLN 4.30 line. It has been "frozen" for several days there is a situation on the euro-dollar pair.

On Wednesday at 9:50 a.m. the euro exchange rate was at 4.2796 PLN and remained unchanged compared to the end of Tuesday's quotes. However, for the past few days we have been observing increasingly higher prices on the euro-zloty exchange rate. daily highs. On Monday it was almost 4.28 PLN, and on Tuesday it was already 4.2867 PLN zloty.

This is how the EUR/PLN exchange rate is slowly approaching the PLN 4.30 line, which marks the upper limit of the ongoing sideways trend since April. A possible permanent break of this level at based on technical analysis, it would open the way to PLN 4.40. And the euro is so expensive we haven't seen since November 2023.

The Polish zloty was not helped by very weak data from Germany industry. In June, the value of industrial orders was 1% lower than in in May, although economists expected a 1% month-on-month increase. After seasonal adjustments it was the second consecutive decline in orders in German industry, although in the spring The first signs of recovery could be seen there. Germany is the largest recipient of Polish export.

The situation on the euro-dollar pair remains unchanged, with the euro trading at USD 1.1580. The situation here may change with the evening's speeches officials from the Federal Reserve. This will be a litmus test of sorts, the influence of weak data from the labor market on the attitude of decision-makers. Their a possible "dove down" could weaken the dollar, which would be helpful for Polish zloty.

Meanwhile, the American currency was valued on our market at PLN 3.9550, so only slightly lower than the day before. But still much lower than a week ago, when the course USD/PLN attacked the level of PLN 3.75.

Swiss franc was valued at PLN 4.5743 after the Helvetica exchange rate fell last week currencies at times exceeded the level of PLN 4.60. This level is the upper limit limiting the sideways trend in force since April.

KK

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