At 14:00, the General Statistical Office (GUS) published a number of macroeconomic data from the Polish market, including information on the unemployment rate and the number of new unemployed. The following summary of the latest GUS data.
Unemployment rate drops to 8.3%
According to the General Statistical Office, the unemployment rate in September was 8.3%, sinking to levels of 8.4%, which was recorded in August. At the same time the number of unemployed registered in labour offices fell to 1,324.1 thousand compared to 1,346.9 thousand from the previous period. Jobless claims increased from the level of 166.8 thousand in August to 202.2 thousand for September (by 21.2% month-to-month). In annual terms, this number falls by 11.2%. During the past month, the labour offices also received 0.6% more offers in terms of m/m and 8.8% y/y terms.
Other data from the Polish economy also positive
In addition to the positive data on unemployment, GUS also reported after 10:00 am on:
- Growth of retail trade turnover by 9.9% y/y
- House under construction at the level of 741.3 thousand. (+ 2.0% y/y)
- New orders in industry, which increased in September by 24.2% y/y
- Wholesale business (+ 7.0% yoy)
As a result, on Polish zloty (PLN) we observed appreciation and dynamic tests of 4.30.
The situation on the Polish zloty
As mentioned above, the EURPLN noted stronger decline after the publication of the data, continuing the earlier depreciation – pair was stopped on lows from 19-20 October
For USDPLN we also observed declines practically from the beginning of the day. Bears managed to overcome zone of support/resistance defined by the highs of October 20 and Monday lows. Successful re-test from the bottom allowed continued strengthening of the zloty.