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CZK: EURCZK Approaches 25.000 as August Down-Leg Extends

CZK
  • Downside momentum for EURCZK has accelerated through last week’s lows, taking the cross within close proximity to the 25.000 handle.
  • There does not appear to be any fundamental driver behind koruna strength today, but the local currency is notably among the top performers in the EMEA region, with spot gains against the euro now at +1.65% on the month (HUF: -0.23%; PLN: +0.27%).
  • Looking ahead, preliminary GDP figures for Q2 will cross on Friday, with the data expected to show a +0.4% Y/Y expansion (Prior: +0.4%).

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