The surprising macroeconomic data was mainly caused by statistical noise, rather than by real economic processes. The zloty remains stable and indifferent to external factors.
The euro has been slightly overvalued since the ECB meeting yesterday. Today, the market will focus on both the British and American GDP readings for the first quarters. The zloty remains stable and today's date regarding Polish inflation is unlikely to change that.
The ECB message is fairly neutral despite the EUR/USD volatility. Weaker than expected readings from the US economic are dollar negative. The zloty remains strong and stable both to the developed and developing economies.
The White House's plan regarding tax system changes has not supported the dollar. Today's ECB meeting is being in the center of attention. The zloty remains strong and stable, despite an increased nervousness of the other EM currencies.
The market is anticipating Donald Trump's testimony. Steven Mnuchin confirmed a will of lowering taxes for companies down to 15%. The condition of the emerging market currencies may deteriorate.
The positive sentiment continues. The American S&P 500 is only 0.5% away from its historical maximum. Some of the emerging market currencies, including the zloty, have increased their growths. The matker is anticipating an announcement of the tax system changes in the USA.