Daily

In today's Eyeopener

- Today July’s PMI, we are expecting a slight rebound
- Polish CPI went back to the tolerance band around target, but surprised to the upside
- Inflation remained low in Germany, US data without surprises
- Strong rise in mortgage loan origination
- Weaker zloty and higher bond yields

In today's Eyeopener

- Today CPI inflation in July, with probable decline towards to 3% y/y
- US interest rates unchanged
- ESI: worse business climate in Poland in July
- GDP data better than expected in USA, Germany and euro zone
- Small changes on the FX market, minor rise of Polish and core yields

In today's Eyeopener

- Today 2Q25 GDP in USA, euro zone, Germany, Czechia and Hungary
- Fed’s decision on interest rates in the evening, no change is expected
- Better consumer confidence in the USA, but lower number of vacancies
- Zloty and CEE currencies weakened yesterday again
- Polish debt market calmed after Monday’s correction

- Today July’s reading of Consumer Conference Board
- Donald Trump increased pressure on Russia regarding talks with Ukraine
- Structural data confirm spuriousness of the June increase in unemployment
- Weakening of CEE currencies and lower yields in reaction to EU-USA trade deal 

In today's Eyeopener

- No important economic data today
- Trump and von der Leyen announced a trade deal
- German data slightly worse than expected, US better
- FX and FX markets without important changes