On Tuesday, June 7, 2022, the exchange rates in the market depreciate against the zloty. The euro and the franc are losing 0.15% and 0.24%, respectively. The weakest is the US dollar, trading 0.29% below the benchmark. The pound is the only one strengthening against the Polish currency and gaining 0.21%. Check how much the EUR / PLN euro, the USD / PLN dollar, the GBP / PLN pound and the CHF / PLN franc are before the end of Tuesday’s session.
The dollar exchange rate reflects yesterday’s gains
EUR / PLN drops below PLN 4.58
Today the pound is the strongest against the zloty
CHF / PLN weakens for the second session in a row
Currency pair
Course
Name
EUR / PLN 4.5770 euro USD / PLN 4.2740 dollar GBP / PLN 5.3840 pound CHF / PLN 4.3940 franc.
Table of Contents
The dollar (USD / PLN) is moving away from the 50-day EMA
The dollar is falling again due to yesterday’s upward correction and continues the downward trend started 5 weeks ago. During today’s session, the US currency is losing more than PLN 0.01 and is moving away from the 50-day EMA again. From a technical analysis point of view, the dollar broke the 50-day exponential moving average (EMA) three weeks ago, which is an additional sign of weakness. The American currency, however, is slowly approaching it. The nearest key support is only at PLN 4.1570. In the longer term, however, the dollar should continue to strengthen against the zloty, which confirms the hawkish attitude of the Fed and further interest rate hikes in the United States. It is also worth taking into account the ongoing conflict between Russia and Ukraine – the exchange rate of the zloty is more dependent on the course of the war. Currently, there is an upward recovery of the zloty against the US currency.
USDPLN rate on June 7, 2022 The United States is less dependent on the rise in commodity prices caused by the sanctions imposed on Russia, which should positively affect the dollar in the longer term.
The euro exchange rate (EUR / PLN) loses 0.15 percent during Tuesday’s session.
Today the euro is weakening against the zloty and is losing 0.15%. Looking at the EUR / PLN chart, we can see that the rate is still below the zone between the 50-day EMA and an important support at PLN 4.6150, where the common currency has been consolidating for a long time. The current key support is only at PLN 4.4890. Moreover, we can see that the EUR / PLN quotations have recently left the downward channel (green), which is a positive signal for the demand side, but today they are approaching its upper edge again. Analyzing the previous moves, we can see that the euro rate rebounded from the support at PLN 4.4890 and recorded a rally in which it gained over 50 groszy within two weeks. The single currency only stopped when the psychological barrier was below PLN 5.00.
Euro EURPLN on June 7, 2022 The euro – like the zloty – also lost in the broad currency market as a result of the outbreak of the war between Russia and Ukraine. Additionally, the single currency is not helped by the dovish attitude of the European Central Bank (ECB), which is still holding back on interest rate hikes.
The pound exchange rate (GBP / PLN) is the only one that ends the session above the line
The pound is gaining 0.21% today. and is the only one strengthening against the zloty. The British currency, after a period of consolidation between the 50-day EMA and the support at PLN 5.4590, broke the second level last week and headed south. Today’s session brings the pound back. The nearest key support is at PLN 5.3200. The pound, like other currencies, took advantage of the zloty’s weakness after the conflict between Russia and Ukraine. As a result, after a strong rebound from the key support at PLN 5.3200, it started a series of increases in mid-February. The GBP / PLN exchange rate stopped only near the circular barrier of PLN 6.
The pound rate GBPPLN on June 7, 2022 From the moment of rebounding from the level of PLN 6, the pound has already lost over 40 groszy. The GBP / PLN exchange rate recently broke the 50-day EMA and returned to the uptrend again.
The franc (CHF / PLN) depreciates by 0.24%.
The franc exchange rate – similarly to the dollar, euro and pound – stabilized in April and is currently in a sideways trend against the Polish currency. Looking at the chart, we can see that the rate has been consolidating between the levels of PLN 4.4090 – PLN 4.4880 in recent weeks. Today, the Swiss currency is falling and leaving the aforementioned zone, which is a bad signal for the demand side.
Franc exchange rate CHFPLN on June 7, 2022 During the rally from mid-February, the franc managed to break the resistance at PLN 4.4880 and PLN 4.6550. The CHF / PLN exchange rate thus had an open path to break the round level of PLN 5.00, but it stopped at PLN 4.94. Follow us on Google News. Search what is important and stay up to date with the market! Watch us >>
