Zloty Falls Following Trade Announcement
• USD/PLN Rises After Trade Announcement.
• Current Account Shrinks in November 2014.
USD/PLN appreciated yesterday as both Polish exports and imports surpassed leading economists’ expectations for November 2014. Exports crossed the wire at €13556M outpacing the €13473M projected, however severely below October’s reading of €14857M. Imports also followed this trend coming in at €13652M, above analysts’ prediction of €13379M, and again falling short of October’s figure of €14865M. Such an imbalance led to trade deficit of -€96M, well below the projected €100M. In addition to these figures, Poland’s current account balance strengthened in November 2014 coming in at -€268M better than economists’ prediction of -€476M. The less than negative reading indicated that in November 2014 Poland transitioned from being primarily a net borrower to a net lender to the rest of the world.
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