The zloty is stable, investors are waiting for data from Poland

Monday brings minor changes on the currency market. The zloty remains stable against the main currencies, waiting for data from the Polish economy to be published later in the week. The news about the "green light" to bring President Adam Glapiński before the State Tribunal does not cause emotions on the market.

Monday brings slight fluctuations in the zloty, which remains at levels similar to those from Friday's close. This means that investors did not react to any weekend reports from Bloomberg that there was a "political green light" to impeach the president in Poland. National Bank of Poland (NBP) Adam Glapiński before the State Tribunal. Politicians accuse the president of the NBP of, among other things, political involvement before the last parliamentary elections in Poland.

On Monday noon, the price for the euro on the currency market was PLN 4,3346, compared to PLN 4,3361 on Friday at the end of the day, and the dollar cost PLN 4,0227, compared to PLN 4,0242 at the end of the previous week.

USD / PLN daily chart. Source: Tickmill

Monday's limited fluctuations in the zloty are mainly the impact of small changes in the broad currency market, mainly EUR / USD (1,0775), dictated by the lack of US investors celebrating today, which limits volatility and turnover in all markets. Already on Tuesday, financial markets will return to normal activity and therefore the volatility of the zloty will also be greater.

In the coming days, the impulse for the zloty will be not only global markets, but primarily the domestic factor. Already on Tuesday, the first macroeconomic data from the Polish economy will be published, which will allow us to assess to what extent the assumed scenario of a quick economic rebound this year is still valid.

On Tuesday, the Central Statistical Office (GUS) will publish January data on industrial production (forecast: 3,1% Y/Y), producer inflation (forecast: -8,3% Y/Y), and wages (forecast: 10,9% Y/Y) and employment (forecast: -0,2% Y/Y) in companies.

A day later, January data on construction and assembly production will be published (forecast: 6% Y/Y) and the February report on consumer sentiment.

On Thursday, the most important domestic data for the week will be released on retail sales in January (forecast: 1,4% Y/Y), which will be supplemented by the money supply report and February's data on the economic climate.

The week will end with the publication of data on the unemployment rate in January. According to forecasts, this will increase to 5,4%. with 5,1 percent in December, which is traditionally caused by seasonal factors.