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CE3 FX Extends Gains Despite Slight Recovery in the USD

CEE FX
CE3 FX is continuing to make solid gains as we approach the end of the European session despite the USD index recovering from its intraday lows. Lower UST yields and stronger equities have benefitted EM FX amid the more benign market mood toward risk since yesterday’s Fed meeting. Reports that the US may be pushing Israel for a ‘pause’ in its war against Hamas may also be providing additional impetus to risk currencies.
  • At typing, EURCZK is trading within close proximity to the 50-day EMA at 24.447. Price has not traded below this average since late June. Meanwhile, EURHUF is down 0.51%, targeting multi-week lows at 380.73, the Oct 24 low. While PLN has firmed also, EURPLN price action is within recent ranges.

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