Polish Zloty Looks Ahead of October Figures
• Polish Zloty Looks Past October Statistics
• Employment Figures Meet Analysts’ Expectations
• Average Gross Wages Surge Past Analysts’ Expectations
The Polish Zloty was reluctant to change following the recent announcements made by the Central Statistical Office of Poland. Both monthly and yearly employment statistics for October 2014 met analysts’ expectations remaining at .10 percent and .80 percent respectively. Despite any change in employment, average gross wages, on a monthly and yearly basis for October 2014, surpassed analysts’ expectations by .40 percent and .50 percent respectively, possibly signaling a potential pick-up in employment in the upcoming months. Investor’s concern over recent monetary policy by the National Bank of Poland and their decision to lower interest rates by 50 basis points in October 2014, in an attempt to thwart fallout from the recent slowdown in neighboring Germany could have caused this lackluster response. Furthermore, as Germany – the largest purchaser of Polish goods continues to slow, traders would be keen to watch for more monetary policy announcements by the National Bank of Poland as well as any incoming German data.