Turkey’s economic growth is at its lowest level in approximately seven years. The data regarding trade in goods in the Polish foreign trade show that export increased by 5.1% during the first ten months of 2016.
The agreement between the non-OPEC countries caused new growths in oil prices. New records in profitability of the American debt before the Fed meeting. The zloty wears-off against the main currencies, as well as against the forint.
A weaker pound helps the British export: the October’s deficit in the balance of trade in goods is the lowest since July. The Polish currency is amongst the weakest today.
Does yesterday’s summit of the ECB mean larger or smaller quantitative easing in relation to the consensus? The whole focus shifts to the USA. The key summit of the Fed. The zloty is relatively stable in the afternoon trade.
The European Central Bank surprised the markets. The QE program will decrease from 80 billion to 60 billion euro per month, starting from April 2017. This decision caused the zloty to give away a portion of its recent gains.
The EUR/USD is increasing before the ECB meeting. The mining reduction from the non-OPEC countries may appear significantly smaller than expected. This morning, the zloty maintained the majority of its growths. However, the Polish currency wore-off clearly at noon.