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CZK: Koruna Extends Losses To Worst Levels In Two Months

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EUR/CZK continues to climb after recently breaking above the 50-DMA, which had earlier capped price action. The RSI has advanced towards overbought territory, but is not quite there yet. When this is being typed, EUR/CZK trades +0.041 at 25.330, hitting its best levels since early August. The next target on the topside is 25.525, which limited gains on Aug 1. On the flip side, bears need a return below the 50-DMA before setting their sights on the 25.0 area.

  • The Pirates Party's exit from the government necessitates a cabinet reshuffle, with PM Fiala set to name a new Regional Development Minister and clarify the future of Foreign Minister Jan Lipavsky. Meawhile, the opposition is calling for a vote of confidence in the government due to the ongoing changes in its composition.
  • CZGB yields are higher across the curve, in line with the trends observed in core and EMEA FI spaces. The PX Index has shed 0.4% this morning.
  • Reminder that the CNB will publish the minutes of its most recent monetary policy decision on Friday.
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EUR/CZK continues to climb after recently breaking above the 50-DMA, which had earlier capped price action. The RSI has advanced towards overbought territory, but is not quite there yet. When this is being typed, EUR/CZK trades +0.041 at 25.330, hitting its best levels since early August. The next target on the topside is 25.525, which limited gains on Aug 1. On the flip side, bears need a return below the 50-DMA before setting their sights on the 25.0 area.

  • The Pirates Party's exit from the government necessitates a cabinet reshuffle, with PM Fiala set to name a new Regional Development Minister and clarify the future of Foreign Minister Jan Lipavsky. Meawhile, the opposition is calling for a vote of confidence in the government due to the ongoing changes in its composition.
  • CZGB yields are higher across the curve, in line with the trends observed in core and EMEA FI spaces. The PX Index has shed 0.4% this morning.
  • Reminder that the CNB will publish the minutes of its most recent monetary policy decision on Friday.