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CZK: Koruna Loses Shine After Post-CPI Uptick

CZK

EUR/CZK has shaken off the temporary impact of Czechia's above-forecast CPI data released this morning and last changes hands +0.015 at 25.064. A clearance of the 50-DMA at 25.211 would help bulls regain composure. Meanwhile, losses past the 25.0 figure are needed to revive bearish momentum.

  • Czech inflation stayed at +2.2% Y/Y in August, beating the +2.0% consensus forecast (and the CNB's older +1.8% forecast). The short-lived nature of the koruna's reaction might stem from the fact that the upside surprise was largely limited to volatile items (specifically food). The CNB will release its comments at 12:00BST/13:00CEST.
  • CZGB yields have eased off session highs but continue to sit above neutral levels. The PX Index is little changed at typing.
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

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