Free Trial

Broad USD Strength Sends USDCZK above 23 Level

CZECHIA
  • Yesterday, CNB deputy Governor Mora mentioned in an interview that the central bank may either keep interest rates steady or hike at the next meeting on May 5.
  • This followed Holub’s comments earlier on Tuesday that he would seek ‘at least a 50bps hike’ at the next meeting. Holub added that bets on Czech rate at 6% are fairly realistic.
  • PM Petr Fiala will meet Polish President Duda during his visit to Czech Republic today (BBG).
  • EURCZK ticks lower this morning after finding a local high at 24.5860 yesterday; ST support to watch on the downside stands at 24.50, followed by 24.3610 (yesterday’s low). On the topside, key resistance to watch stands at 24.6890 (100DMA).
  • USDCZK broke above the 23 level following yesterday’s headline on Gazprom cutting gas supplies for Poland; the pair is currently trading at its highest level since early March. Next resistance to watch on the topside stands at 23.4050. On the downside, support to watch stands at 23.

Source: Bloomberg/MNI

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.