Cinkciarz.pl, a company belonging to Conotoxia Holding, was the most accurate in the world in forecasting changes in the EUR/PLN exchange rate, according to the latest quarterly ranking by the Bloomberg agency. The ranking is calculated on the basis of monthly surveys that include long-term forecasts sent by dozens of leading financial institutions from around the world. Polish fintech won a total of 10 podium places in Q1 2024, including four wins.
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EUR/PLN forecasts
At the end of March, Cinkciarz.pl analyst Bartosz Sawicki demonstrated the highest forecast accuracy in the world for the EUR/PLN currency pair. His performance on this currency pair over the past four quarters is shown in the chart below.
Source: Conotoxia MT5, EURPLN, Daily
As for the USD/PLN currency pair, Cinkciarz.pl came second. The company's forecasts show particular accuracy in the case of emerging market currencies. Cinkciarz.pl took top positions in the rankings for the Chinese yuan (in off-shore markets), the Mexican peso and the Russian rouble. High rankings for other notable currencies in the basket (such as the Turkish lira, Hungarian forint and Romanian leu) contributed to second place in the EMEA (Europe, Middle East and Africa) economies category.
What does the future hold for EUR/PLN?
- We are achieving positive results thanks to our optimistic view of the zloty. Our forecasts for 2023 predicted that the euro exchange rate would close the first quarter at PLN 4.35. We expect the Polish currency to remain strong and stable. We predict that EUR/PLN will gradually approach the level of 4.25, continuing the upward trend of recent months. The zloty should benefit from the MPC's resistance to interest rate cuts, favourable fundamental conditions and expected monetary policy loosening by the Fed and ECB, comments Bartosz Sawicki, analyst at Cinkciarz.pl.
Achievements of Cinkciarz.pl
The latest achievement is already part of Cinkciarz.pl's long history of topping Bloomberg agency rankings. In the past, the global fintech has topped the accuracy rankings for various currency pairs more than 120 times. In the previous quarter, Cinkciarz.pl claimed 14 podium places, including nine wins.
Selected positions of Cinkciarz.pl in the Bloomberg ranking after Q1 2024 include:
- 1st place in the EUR/PLN currency pair (PLN/EUR exchange rate)
- 1st place in the USD/MXN currency pair (exchange rate of the Mexican peso against the US dollar)
- 1st place for the USD/CNY currency pair (Chinese yuan to US dollar exchange rate on the off-shore market)
- 1st place in the USD/RUB currency pair (rouble to US dollar exchange rate)
- 2nd place in the USD/PLN currency pair (the rate of the zloty in relation to the US dollar)
- 2nd place in the EUR/HUF currency pair (forint vs euro)
Grzegorz Dróżdż, CAI MPW, Market Analyst of Conotoxia Ltd. (Conotoxia investment service)
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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