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CZK: Koruna Inches Higher, CNB Comments On GDP Eyed

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK deals -0.020 at 25.260, with familiar technical levels still in play. With the 50-DMA out of the way, bears now turn their focus to the 100-DMA, which kicks in at 25.235 and limited losses on several occasions earlier this month. Bulls look for renewed gains towards Nov 6 high of 25.449 and Aug 1 high of 25.535.

  • The CZSO confirmed Q3 GDP growth at +1.3% Y/Y, with quarter-on-quarter growth revised by 0.1pp higher to +0.4%. The Czech National Bank will release its comments on the data at 12:00GMT/13:00CET. Looking ahead, a new survey by Bloomberg revealed that economists expect the economy to grow by 1.6% Y/Y in the final quarter of the year.
  • Czechia's M2 money supply expanded by 6.0% Y/Y in October versus +5.4% in September.
  • CZGB curve runs a tad flatter, with yields on 5s and longer-dated debt outperforming. The PX Index has added 0.1%.
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EUR/CZK deals -0.020 at 25.260, with familiar technical levels still in play. With the 50-DMA out of the way, bears now turn their focus to the 100-DMA, which kicks in at 25.235 and limited losses on several occasions earlier this month. Bulls look for renewed gains towards Nov 6 high of 25.449 and Aug 1 high of 25.535.

  • The CZSO confirmed Q3 GDP growth at +1.3% Y/Y, with quarter-on-quarter growth revised by 0.1pp higher to +0.4%. The Czech National Bank will release its comments on the data at 12:00GMT/13:00CET. Looking ahead, a new survey by Bloomberg revealed that economists expect the economy to grow by 1.6% Y/Y in the final quarter of the year.
  • Czechia's M2 money supply expanded by 6.0% Y/Y in October versus +5.4% in September.
  • CZGB curve runs a tad flatter, with yields on 5s and longer-dated debt outperforming. The PX Index has added 0.1%.