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CZK: Koruna Continues To Depreciate

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EUR/CZK continues to creep higher and last changes hands +0.008 at 25.163. The recent breach of Aug 29 high of 25.138 opens up room for further gains, with bulls eyeing a break above the 50-DMA at 25.207. On the flip side, bears look for a dip through the psychologically significant 25.0 figure.

  • Finance Minister Zbynek Stanjura said that the government might amend this year's budget to deal with the damage wrought by ongoing floods. He added that this should not affect the key parameters of next year's budget.
  • CNB's Jan Kubicek and Tomas Holub indicated that a continued monetary policy easing is likely, with the Bank Board expected to deliver another 25bp rate cut next week.
  • CZGB yields are marginally mixed; the PX Index sits 0.3% lower on the session.
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EUR/CZK continues to creep higher and last changes hands +0.008 at 25.163. The recent breach of Aug 29 high of 25.138 opens up room for further gains, with bulls eyeing a break above the 50-DMA at 25.207. On the flip side, bears look for a dip through the psychologically significant 25.0 figure.

  • Finance Minister Zbynek Stanjura said that the government might amend this year's budget to deal with the damage wrought by ongoing floods. He added that this should not affect the key parameters of next year's budget.
  • CNB's Jan Kubicek and Tomas Holub indicated that a continued monetary policy easing is likely, with the Bank Board expected to deliver another 25bp rate cut next week.
  • CZGB yields are marginally mixed; the PX Index sits 0.3% lower on the session.