http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-11-13.htmlStock markets regained ground and attacked this year’s highs but this past week currencies reacted also to other factors. Last weekend on the G20 meeting, the International Monetary Fund (IMF) stated that the dollar is overvalued, at the same time confirming that the American currency is still the main funding currency for carry trade transactions (those in which we borrow “cheap” currency, buy “expensive” currency and we invest it in stocks). The EUR/USD reacted to the news advancing toFri, 13 Nov 2009 14:41:48 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-11-13.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-23.htmlStock indices keep reaching new yearly highs and this has great influence on emerging markets’ currencies, like the Polish Złoty. Risk aversion declined and despite worse news from the U.S housing market, optimism is back on the markets. Most of the American companies are reporting better than expected quarterly results (this past week firms like Wells Fargo, DuPont, Caterpillar or Microsoft). Good results are driving indices up, which at the same time is causing the EUR/USD to reach newFri, 23 Oct 2009 14:21:08 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-23.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-09.htmlAfter the previous week’s decreases, financial markets regained some ground and bounced back. It seems that investors ignored bad macroeconomic news from the U.S (especially experiencing hard times the labor market) at least temporarily. This past week was not rich in macro publications so markets looked for other impulses. The only report that made difference was Monday’s U.S ISM-Services publication, which increased to its highest level since 2008 (reading at 50.9 points). Risk aversionFri, 09 Oct 2009 13:40:46 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-09.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-02.htmlThis past week’s macroeconomic news did not confirm that the crisis is really gone as Fed’s chairman, Ben Bernanke, was implying. The U.S labor market is still in difficult condition as proved by the ADP and nonfarm payrolls reports (both worse than expected). Other reports (Chicago PMI and ISM-manufacturing) did not help the markets either. The EUR/USD declined along with tumbling stock markets and reached $1.45 at the end of the week, an important support level, from which it can rebound.Fri, 02 Oct 2009 14:14:24 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-10-02.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-04-24.htmlAfter three consecutive weeks of gains, this past week the polish currency declined in value. Usually, the Złoty follows the EUR/USD trend but this correlation has been broken recently. Investors worldwide were shocked by U.S Secretary of Treasury, Timothy Geithner, who said that most banks in the U.S would survive turbulent financial times, according to the “stress tests” performed recently on the 19 biggest U.S financial institutions. That stopped declines on capital markets but did not helpFri, 24 Apr 2009 14:06:49 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-04-24.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-03-27.htmlInvestors worldwide were waiting for a long time for such good macroeconomic news. On Monday, Timothy Geithner, U.S Secretary of the Treasury reveled the plan to help financial institutions by re-buying “toxic” investments with government and private capital. In his speech, Geithner revealed many more details about the rescue plan than in his last speech causing equity markets to shoot up. More to that, reports from the American economy were better than expected and those included new andFri, 27 Mar 2009 15:14:34 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-03-27.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-03-06.htmlThe first week of March was yet another one when the Polish zloty lost against majors like the euro or the dollar. However, looking at the whole picture, it still was a sign of some stabilization. First of all, we had another flow of pessimistic information from the developed markets, where major stock indices excavated their lows amid bleak economic data (like employment reports from the US) and continuous uncertainty regarding financial sector, not only in the US. Most of the emergingFri, 06 Mar 2009 16:33:48 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-03-06.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-02-20.htmlLast week brought about an extreme volatility on the Polish currency market. We saw as many as four tests of the historical, 5 years old peak on the EURPLN and a sharp corrective move afterwards. There was also a lot of talk about intervention by the government, often causing a confusion. One needs to notice that bearish articles in the financial press in the Western Europe didn’t help to improve the sentiment, even though they were not extremely innovative (like finding that Poland runs aFri, 20 Feb 2009 15:16:20 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-02-20.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-02-06.htmlLast week brought about another major depreciation of the Polish currency. EURPLN started the week from 4,45 and then slid to 4,40 only to shoot up to 4,70 on Wednesday. USDPLN went up from Monday’s bottom of 3,45 to 3,65. While the week ended with some profit taking, the volatility was still extraordinary and not justified by relatively calm markets of major currency pairs. Looking at the unnamed graph one would think about a budget or banking crisis in the country, yet nothing of that sortFri, 06 Feb 2009 15:25:57 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-02-06.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-01-23.htmlAfter the “hope bringing” December and a good start of this year investors have been faced with an avalanche of the poor news. First coming from the macroeconomic front, later from companies. Last week started really gloomy with the news from the British RBS about to lose massive 28 bln GBP. It was followed later by a string of mostly mediocre results and pessimistic announcements like the one from the Microsoft, which plans firing 5000 employees. This set a tone for currency markets, onlyFri, 23 Jan 2009 14:45:35 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-01-23.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-01-16.htmlThe Polish Złoty remains weakening since mid-December and there are no sign at the moment that this trend will stop. The situation on equities market worsened forcing investors to retreat from emerging markets associated with more risk. Increased risk aversion this past week caused to eurodollar market to drop all the way to $1.3060 (from $1.3440). On Friday, the situation calmed down and the EUR/USD finished the week at $1.3305. The Polish Złoty is strongly correlated with the Eurodollar andFri, 16 Jan 2009 15:54:14 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2009-01-16.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2008-11-14.htmlLast week on the Polish forex did not change much, if one can say so about the market going 10% down and then making up for the major chunk of that loss. The mechanisms, however, remained in place. A high volatility on the stock market fully transferred on the forex market with the major currency pairs: EURUSD and USDJPY heading towards their October’s lows, reinforced by the grim news from the German economy which contracted more than anticipated. That renewed turbulences on the emergingFri, 14 Nov 2008 15:39:06 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2008-11-14.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2008-11-07.htmlThe first week of November on the Polish forex started calmly and ended nervously. Initially, the Zloty did not react visibly on the fluctuations of the EURUSD, which is still shaped mostly by the changing moods on the stock markets. At the end of the week, however, the Polish currency became more fragile and reacted mostly at times when the dollar was gaining. As a result, while the EURUSD remains virtually unchanged for the week, the Zloty suffered a quite noticeable loss. The USDPLN roseFri, 07 Nov 2008 16:47:32 GMThttp://www.fxstreet.com/fundamental/market-view/Robert.kosowski@xtb.pl (X-Trade Brokers, XTB)http://www.fxstreet.com/fundamental/market-view/weekly-currency-brief/2008-11-07.html