MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CZK: EUR Weakness Prompts Reversal Lower for CZK

CZK

The moderate recovery in the euro from its overnight lows proved to be short-lived, prompting an extension lower in CZK as the single currency falls back towards its lowest levels of the week.

  • Comments from CNB Governor Ales Michl yesterday, who said “It’s better to have a more consistent, but overall more restrictive policy”, underpinned CZK outperformance, with the koruna ~0.7% firmer against the Polish zloty this week, and flat against the Hungarian forint. While local drivers/data are limited today, focus will turn to preliminary Q2 GDP figures released at the end of the week.
  • EURCZK briefly tested the 25.00 handle again today, a break of which would place the cross at its lowest level since the start of July. 24.9166, the 61.8% retracement of the Jun-Aug rally, marks next support. Given the scale of the impressive sell-off over the past month, initial resistance for the cross remains some way off, at around 25.15 where both the 20- and 50-day EMAs intersect today.
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

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.