At the beginning of this week, the value of gold remained unchangeable in relation to the euro and Swiss franc, while an increase in relation to the dollar was recorded. The coming days bring the publication of data on industrial production and retail in October, which the Central Statistical Office (GUS) plans to publish.
Early on Monday, 1 euro was exchanged at the rate of PLN 4.38, maintaining stableness in relation to erstwhile quotations from Friday evening. A akin situation afraid the gold course against the Swiss franc, which oscillated between PLN 4.54 both on Monday morning and in the afternoon of Friday.
However, after resuming the trade after the weekend, the gold gained value against the dollar. On Monday morning the price of American currency was PLN 4.01, presenting a decrease compared to Friday afternoon, erstwhile the odds were PLN 4.03.
These unchangeable trends in the currency marketplace may reflect a certain balance, but what else can affect these monetary movements? Political developments, changes in global economics or even amazing information on macroeconomic data can affect currency values. Do you think there are also factors that could affect these exchange rates?
Macroeconomic timetable. The Central Statistical Office will supply crucial data on the Polish economy
Soon the Central Statistical Office plans to print a number of reports related to the condition of the Polish economy. In addition to the already planned presentations on the national average and industrial production in October, there are besides expectations of retail data.
Economic forecasts focus on increased consumer spending, which may have a key impact on Poland's GDP growth in the final period of 2023. This is important, as expanding purchasing activity can stimulate the economical improvement of the country.
It is worth noting developments in global markets, especially the decision of the Hungarian central bank on interest rates, which is planned for Tuesday. Previously, erstwhile taking action in the field of monetary policy, the Hungarian authorities applied an approach akin to the Polish Monetary Policy Council, lowering interest rates and introducing any relaxation of monetary policy.
Thursday's publication of PMI data in France and Germany for October can besides be important. reflection of the index in these countries can be interpreted as a affirmative signal for Polish industry, which is frequently dependent on abroad demand.
It's only part of the events that can affect the economical landscape. What another factors do you think might affect the economy?
Ignacy Michałowski
OSINT investigator with experience in global journalism projects. It has been publishing materials for over 20 years for the largest releases. In social activities he engaged in various projects and initiatives aimed at improving the quality of life of people, especially those of mediocre communities. He was besides active in the fight for human rights. Contact: [email protected]
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Exchange rates – 20.11.2023. How much is the euro, dollar and franc:
