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CPI Inflation Expected To Decelerate To 2.8% YoY in June

CZECHIA
  • This week, investors will closely watch June CPI print (coming out on July 13), which is expected to decelerate to 2.8% (from 2.9%).
  • Next CNB meeting will take place on August 5, and policymaker are very likely to raise the benchmark rate by another 25bps to 0.75%.
  • USDCZK ticks higher this morning after finding a local low at 21.67 earlier and is currently trading slightly below its 200DMA at 21.74; ST support to watch on the downside stands at 21.48 (100DMA). On the topside, first resistance stands at 21.92, followed by 22.
  • Czech 10Y yield has been flat in the past few days and is currently flirting with its 50DMA (1.71%); ST resistance to watch on the topside stands at 1.77% (100DMA). On the downside, key support to watch stands at 1.60%.
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