On Thursday morning, the Polish zloty is gaining in relation to its main competitors on the Forex market. Today’s session begins with the following changes on currency pairs: GBP / PLN (+ 0.04%), CHF / PLN (+ 0.16%), USD / PLN (+ 0.52%) and EUR / PLN (+0, 22%). Check the exchange rates on Thursday, May 12, 2022. The USD / PLN exchange rate is recovering from losses. The dollar breaks above PLN 4.45. EUR / PLN interrupts declines. The euro strengthens at PLN 4.68 The pound rate returns to pre-war levels. GBP / PLN is trading at the support of PLN 5.44 The CHF / PLN currency pair is trying to rebound. Frank is heading towards PLN 4.48
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EUR / PLN 4.6824 euro May 12, 2022 at 07:40 USD / PLN 4.4555 USD May 12, 2022 at 07:40 GBP / PLN 5.4428 pound May 12, 2022 at : 07:40 CHF / PLN 4.4749 franc May 12, 2022, time: 07:40 From the article you will learn, among other things:
Table of Contents
The EUR / PLN exchange rate returns above PLN 4.68. The euro is trying to rebound
After yesterday’s test of the 50-day exponential moving average and the level of PLN 4.66, the quotations of the EUR / PLN currency pair are returning to the area of PLN 4.68, making an attempt to recover from the recent declines. On Monday, May 9, the single currency tested the monthly highs, located near the resistance at PLN 4.72. Although it was the fourth attempt in the last 3 weeks to break the aforementioned limit, constituting a ceiling for further increases, at the end of the day the bulls were forced to give way. Tuesday and Wednesday were marked by further depreciation of the single currency and breach of the PLN 4.66 barrier below the 50-day exponential moving average, which the bulls again used to stop further declines. Today, he is waiting for a vote on the candidacy of prof. Glapiński as the head of the NBP. The legal doubts raised earlier seem to be negated on the grounds of functional and teleological interpretations, therefore it is highly probable that the current president will be elected for the next term of office. Although the EUR / PLN pair seems to be heading towards a further appreciation, the growth of the single currency is slowed down by the stance of the ECB president. From the side of the other members of the European Central Bank, a narrative is clearly beginning to flow that prepares the markets for potential changes in the bank’s rhetoric, which will be announced at the June meeting.
Euro exchange rate, EUR / PLN currency pair, quotes on May 12, 2022
The franc exchange rate fluctuates at PLN 4.47, CHF / PLN is slightly gaining in the morning
Today the CHF / PLN currency pair is still trading below the support at PLN 4.48, and the demand side is trying to limit the sell-off around the 100-day moving average. A similar situation took place last week, when the franc lost almost 5 worse against the zloty, and the bulls defended the level of support determined by the 100-day moving average close to PLN 4.48. In the morning, the CHF / PLN slightly appreciated, rebounding from the March lows at PLN 4.46, which may herald a return to the support area of PLN 4.48. If, however, the sentiment observed in recent days persists, the franc should soon return to the quotations from before the outbreak of the war, and thus go down to the area of 4.45 zlotys.
Franc exchange rate, CHF / PLN currency pair, quotes on May 12, 2022
The USD / PLN exchange rate went up sharply. The dollar breaks through PLN 4.45 again
In the morning, the USD / PLN currency pair returns above PLN 4.45, gaining 0.50% against the zloty. Additionally, the US currency is strengthening again in the broad market.
Although CPI inflation in the US for the last month did not turn out as expected, the EUR / USD may try to breach the 1.05 level, which may disturb the zloty balance. Recent days have shown that despite the slightly less hawkish position of the Fed, the markets will not be willing to sell off the US currency. The dollar seems to be benefiting from concerns about a global recession, even though the United States is not immune from this problem at all. Last week, investors, defending an important support at PLN 4.38, made it clear that capital is still moving towards a safer haven that remains the US currency. Taking advantage of the tense global situation, the dollar does not rule out a return to the March highs, as evidenced by the Monday test of the upper limit at PLN 4.49. Today, the currency resumes its move to the south and hitting the aforementioned resistance in the coming days seems to be a realistic scenario. The strength of the USD is the result of the risk-off attitude in global markets, combined with concerns about economic growth and political issues. In the morning, the American currency returns to growth and hovers above PLN 4.45, from where it may make further attempts to break the key resistance PLN 4.49.
Dollar exchange rate, USD / PLN currency pair, quotation on May 12, 2022
The pound rate deepens its declines. GBP / PLN is struggling to maintain support at PLN 5.44
The first hours of Thursday’s session did not bring any major changes to the GBP / PLN currency pair, and the currency itself fights to maintain an important level of support at PLN 5.44, following a short-term downward trend. Last week, we saw a lot of movement in the GBP / PLN pair, which, after several unsuccessful attempts to break the PLN 4.60 barrier, fell below the 200-day exponential moving average below PLN 4.45. The stocks are mostly influenced by macroeconomic, and now also political, factors. Despite unanimous decision on rate hike by 25 bp to 1.00 percent. By the Bank of England, Britain’s pessimistic economic outlook weighs heavily on the currency’s quotes. In addition, the victory of the nationalists from Sinn Fein in Northern Ireland is starting to raise concerns in the government in London, as it may be a step towards the separation of this area from Great Britain in the coming years. The Bank of England openly heralds the upcoming stagflation, which the markets are talking about with a large sell-off of the pound. Baku’s statement means that a technical recession is expected in 2022, inflation is said to be as high as 10%, and the economy has to grapple with problems caused by high energy prices and rising unemployment. In the morning, the currency pair is struggling to maintain the key resistance at PLN 5.44, the break of which may open the way to lows from the beginning of the year. There are many indications that the sell-off of the currency has solid foundations, and the deepening of the lows at the end of March at PLN 5.46 confirms the downward trend and serious problems of the currency.
The pound rate, GBP / PLN currency pair, quotes as of May 12, 2022 Follow us on Google News. Search what is important and stay up to date with the market! Watch us >>
