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Czech Koruna Firms, PX Index Prints Cycle Highs

CZK

Spot EUR/CZK trades -0.011 at CZK23.776 at typing and familiar technical levels remain in play. Bears look for a dip under Jan 30, 2023/Oct 30, 2008 lows of CZK23.716/23.700, while bulls keep an eye on the 50-DMA at CZK24.065.

  • CZGBs are marginally softer across the curve, while the PX index has added ~1.2% so far, printing new cyclical highs as a result.
  • Czechia's unemployment rate edged higher to 3.9% last month from 3.7% prior, in line with the consensus forecast, with jobseekers outnumbering vacancies for the first time in almost five years. The local job market is cooling alongside the broader economy, albeit from a strong starting point.

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