MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CZK: Koruna On Defensive Ahead Of Central Bank Decisions

CZK

EUR/CZK refreshed cyclical highs at 25.469 and continues to trade on the front foot, last +0.033 at 25.445. The rate's appreciation has lost some steam recently, with a rising wedge forming on the daily chart as a result. This has allowed the pair to keep printing higher highs while steering clear of overbought territory, with the RSI staying below 70. Bulls look for a move towards and beyond Feb 15 high of 25.519. Conversely, bears look for a fall below short-term trendline support drawn off Jul 22 low and intersecting at 25.354; a break here would open up Jul 19/22 lows of 25.208.

  • The focus is on the CNB's rate decision, which will be announced the day after the FOMC concludes its meeting in the US. Czech policymakers are expected to cut the policy rate by 25bp on Thursday, reducing the pace of monetary easing from the previous 50bp/meeting. Some analysts have flagged risks towards a more dovish outcome related to disappointing GDP growth and on-target inflation, but the consensus around 25bp is virtually unanimous.
  • CZGB curve runs a touch steeper as the short end outperforms; the PX Index sits 0.6% higher on the session.
EM BulletCzech RepublicCEEMEABulletGlobalEmerging Market NewsRegionCzechia

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.