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CZK: Koruna Stabilises After Sharp Sell-Off

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EUR/CZK catches a breather after a dynamic three-day rally. The pair trades flat at 25.340, with market participants on the lookout for fresh catalysts. Bulls look for an extension of recent gains towards Aug 1 high of 25.535. Conversely, bears see the 50-DMA (25.167) as their initial target.

  • The next event of note in the Czech economic calendar is the release of the minutes of the CNB's monetary policy meeting held on September 25. The Bank Board trimmed interest rates by 25bp in a split decision, with one dissenter calling for a 50bp cut. The minutes will be published tomorrow at 08:00BST/09:00CEST.
  • CZGB yields are a touch higher across the curve. The PX Index extends its pullback from recent cyclical highs, losing 0.5% today.
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EUR/CZK catches a breather after a dynamic three-day rally. The pair trades flat at 25.340, with market participants on the lookout for fresh catalysts. Bulls look for an extension of recent gains towards Aug 1 high of 25.535. Conversely, bears see the 50-DMA (25.167) as their initial target.

  • The next event of note in the Czech economic calendar is the release of the minutes of the CNB's monetary policy meeting held on September 25. The Bank Board trimmed interest rates by 25bp in a split decision, with one dissenter calling for a 50bp cut. The minutes will be published tomorrow at 08:00BST/09:00CEST.
  • CZGB yields are a touch higher across the curve. The PX Index extends its pullback from recent cyclical highs, losing 0.5% today.