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Societe Generale
Institutional, Societe Generale
Polish Zloty: Policy on hold keeps PLN supported against Euro โ Societe Generale
Societe Generaleโs Kenneth Broux and colleagues expect the NBP to keep rates unchanged at 3.75%, with Governor Glapiลski emphasising flexibility and data dependence. Given worsening inflation and the removal of a nearโterm cut, they see policy as supportive for the Zloty and expect EUR/PLN to remain biased towards the 4.30 area over the coming quarters. NBP stance […]
by Currency Hedger
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- 4 days ago
Institutional, Societe Generale
Swiss Franc: Swiss data supports dip-buying case โ Societe Generale
Societe Generale strategists note Swiss August Consumer Price Index (CPI) and second-quarter Gross Domestic Product (GDP) surprised to the upside, triggering profit-taking in EUR/CHF and USD/CHF but leaving Swiss National Bank (SNB) policy expectations unchanged. They point out that wider G10/SNB rate differentials and low FX volatility may encourage EUR/CHF dip-buying, while warning that renewed […]
by Currency Hedger
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- 1 week ago
Institutional, Societe Generale
Polish Zloty: Fiscal risks cap gains against Euro – Societe Generale
Societe Generale notes that the Polish Zloty strengthened while domestic bonds sold off as August inflation and second-quarter Gross Domestic Product (GDP) exceeded expectations and the government presented its 2027 budget. The draft foresees a 7.1% of GDP deficit and a tax overhaul shifting burden toward corporates, raising concerns about ratings risks and borrowing costs despite recent […]
by Currency Hedger
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- 2 weeks ago
Institutional, Societe Generale
Brazilian Real: Rate cuts may support BRL against US Dollar – Societe Generale
Societe Generale strategists observe that the Brazilian Real (BRL) largely ignored softer inflation data, which still supports a Banco Central do Brasil (BCB) rate cut in September followed by a pause into elections. A broader easing cycle could attract bond inflows and support the BRL, with USD/BRL expected to remain in a narrow range and […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, Societe Generale
Euro: Range consolidation against US Dollar as growth gap narrows โ Societe Generale
Societe Generaleโs Kit Juckes notes EUR/USD has retraced half of its drop from above 1.20 to 1.1325 and is now stuck in a range as markets await fresh US data. He highlights that 2026 US growth forecasts have been revised down to 2.1%, while Eurozone forecasts were raised to 0.8%, with relative rates tracking relative growth expectations. […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Institutional, Societe Generale
Gold: Breakout sustains upward momentum โ Societe Generale
Societe Generale analysts highlight that Gold has broken out of a small base formation, reclaimed its 200โDMA and is enjoying an extended rebound. The move is framed within broader Dollar debasement concerns and rising term premium. The bank flags successive upside hurdles at $4,730/$4,770 and the April peak at $4,890, with the 200โDMA near $4,510 […]
by Currency Hedger
- 0 Comments
- 3 weeks ago