Free Trial

CNB Deputy Governor Nidetzký Favors 'Relatively Fast' Hikes

CZECHIA
  • This week has been quiet in terms of economic news for Czech Republic, resulting in a low volatility in both the FX and FI markets.
  • This morning, CNB deputy governor Tomáš Nidetzký mentioned in an interview that he favors 'relatively fast' hikes and is backing a rate hike on August 5 meeting.
  • At 10am (London time), lower house of parliament scheduled to hold extraordinary session on tighter rules for some social benefits (BBG).
  • Next data to watch is the first Q2 GDP estimate, which is expected to increase by 9.2% YoY (vs. -2.4% in Q1).
  • USDCZK has been trading within a tight range in the past 10 days, oscillating around 21.75; support to watch on the downside stands at 21.98 (200DMA). On the topside, first resistance stands at 21.92, followed by 22.
  • Czech 10Y yield has been flat in the past 2 days after consolidating lower in the past week; next support to watch on the downside stands at 1.60%. On the topside, first resistance stands at 1.68%, followed by 1.74%.

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.