EUR/PLN to drift down to around 4.65 by end-2023 before rising again toward 4.80 in 2024 – Commerzbank


The Zloty should benefit from a stronger Euro in 2023. However, economists at Commerzbank expect the EUR/PLN to move back higher in 2024.

Rising EUR/PLN rates in 2024

“We forecast the Euro to appreciate further through the rest of 2023 but weaken once again during 2024. Given the Zloty’s high-beta relationship to the Euro, we see EUR/PLN drifting down to around 4.65 by the end of 2023 as inflation moderates globally, which will alter perceptions about Poland’s negative real interest rate.”

“In 2024, we forecast EUR/PLN to rise again towards 4.80 as inflation will likely remain stubbornly above target.”

Source: Commerzbank Research

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays below 1.0700 as focus shifts to US data

EUR/USD stays below 1.0700 as focus shifts to US data

EUR/USD stays on the back foot and trades in negative territory below 1.0700 as investors await US PMI data. Earlier in the day, the data from Germany and the Eurozone showed that the private sector lost growth momentum in early June, making it hard for the Euro to hold its ground.

EUR/USD News

GBP/USD struggles near 1.2650 after UK PMI data

GBP/USD struggles near 1.2650 after UK PMI data

GBP/USD is struggling to stage a rebound from the monthly low it set below 1.2650 on Friday. The mixed PMI data from the UK limits Pound Sterling's upside, despite the stronger-than-expected Retail Sales data for May. US PMI data are coming up next.

GBP/USD News

Gold extends rebound to fresh two-week-high above $2,360

Gold extends rebound to fresh two-week-high above $2,360

Gold continues to stretch higher and trades at its highest level in two weeks above $2,360 after posting strong gains on Thursday. Falling US Treasury bond yields and the cautious market mood support XAU/USD ahead of US PMI data.

Gold News

Bitcoin retraces to crucial support

Bitcoin retraces to crucial support

Bitcoin price encounters resistance at weekly highs before retracing to seek support at a crucial level, while Ethereum and Ripple align closely with Bitcoin's movements, gearing up to surpass resistance barriers and embark on upward rallies.

Read more

US S&P Global PMIs Preview: Economic expansion set to extend into June

US S&P Global PMIs Preview: Economic expansion set to extend into June

The S&P Global Manufacturing PMI is forecast to edge lower to 51.0 from 51.3 in May, and the Services PMI is expected to retreat to 53.7 from 54.8. A reading above 50.0 presents an expansion in the sector’s business activity.

Read more

Forex MAJORS

Cryptocurrencies

Signatures