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CZK: EUR/CZK Attacks 100-DMA, FinMin Forecast On Tap

CZK

EUR/CZK attacked its 100-DMA yesterday, but failed to close below that moving average. The rate continues to press against the 100-DMA (25.065), despite now ticking away from there to last trade +0.006 at 25.077. A clean break below would allow bears to set their sights on the round figure of 25.0 and the 200-DMA intersecting at 24.978. Conversely, bulls look for gains towards Aug 1 high of 25.535.

  • The Finance Ministry will publish its quarterly economic forecast at the bottom of the hour. The previous edition was released in April.
  • CZGB yields have ticked higher, with a degree of flattening evident. The Finance ministry yesterday sold CZK6bn of 2033 bonds (bid/cover 1.91x), CZK5bn of 2036 bonds (bid/cover 1.85x) and CZK250mn of 2057 bonds (bid/cover 3.60x).
  • Upward momentum in the PX Index has weakened and the gauge is catching a breather, losing around 0.3% today.
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