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CZK: Koruna Fares Better Than Regional Peers

CZK

The koruna outperforms its CE3 peers (PLN/CZK -0.2%; CZK/HUF +0.2%), even as local headline flow has failed to provide any notable catalysts. Meanwhile, EUR/CZK stays within a familiar price corridor and a breach of its floor at 25.250 would turn the focus to Jul 19/22 lows of 25.208. Bulls need a rebound above Aug 1 high of 25.535 to regain control. When this is being typed, EUR/CZK trades -0.030 at 25.270.

  • Data released by the CNB showed that the volume of its FX transactions rose to the equivalent of EUR300mn in June from EUR280mn in May, as the central bank continued its programme of selling FX reserve proceeds. The CNB's foreign reserves rose to $147.9bn in July from the revised $146.6bn prior.
  • CZGB yields have climbed, curve has flattened. The PX Index extends its dynamic recovery off the 200-DMA approached on Monday, adding 1.6% today.
EM BulletCzech RepublicCEEMEABulletGlobalEmerging Market NewsRegionCzechia

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