Daily

In today's Eyeopener:

• Today, FOMC minutes from the last meeting
• Fiscal deficit increased to 6.9% of GDP after 1Q25
• In January, number of foreigners working in Poland rose 4.5% y/y
• EURUSD still close to 1.17, local rates moving up

In today's Eyeopener:

• Today, Hungarian inflation and German foreign trade
• MPC’s Iwona Duda sees room for one more 25bp rate cut this year
• RRF expenditure in May higher than last year, but much lower than in April
• Dollar strengthening caused depreciation of CEE currencies, local market rates higher

In today's Eyeopener:

• Today, retail sales in euro zone, industrial output in Germany and Czechia
• Next MPC members mentioning possible further rate cuts this year
• Unexpected, atypical rise in unemployment in June, acceleration in services production in May
• Calm financial markets amid US holiday, local rates keep falling

In today's Eyeopener:

- Today Czech inflation, US holiday
- NBP Governor: further rate cuts are possible, MPC’s Ludwik Kotecki sees two more this year
- Strong US labour market data, Eurozone services PMI higher than the preliminary print
- EURPLN declined to the levels from before the rate cut, more monetary policy easing priced in

In today's Eyeopener:

- Today press conference of the NBP Governor, services PMIs, US labour market report
- Polish MPC unexpectedly cut interest rates by 25bp
- The MPC decision weakened the złoty and strengthened domestic bonds