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CZK: Koruna Steady, PX Index Recovers

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK trades flat at 25.302 and the main contours of the technical picture remain broadly unchanged. On the topside, a break above Nov 6 high of 25.449 would bring Aug 1 high of 25.535 into view. Meanwhile, bears see the 50-DMA (25.271) and 100-DMA (25.238) as their initial target.

  • The slides from a presentation by one of the CNB's senior staffers confirmed familiar forecasts, suggesting that inflation may edge higher around the turn of the year, before gradually easing off towards the +2.0% Y/Y target.
  • CZGB yields sit a tad below neutral levels, with the short end outperforming. The PX Index has added 1.2%, erasing yesterday's decline to threaten a retest of recent cyclical highs.
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EUR/CZK trades flat at 25.302 and the main contours of the technical picture remain broadly unchanged. On the topside, a break above Nov 6 high of 25.449 would bring Aug 1 high of 25.535 into view. Meanwhile, bears see the 50-DMA (25.271) and 100-DMA (25.238) as their initial target.

  • The slides from a presentation by one of the CNB's senior staffers confirmed familiar forecasts, suggesting that inflation may edge higher around the turn of the year, before gradually easing off towards the +2.0% Y/Y target.
  • CZGB yields sit a tad below neutral levels, with the short end outperforming. The PX Index has added 1.2%, erasing yesterday's decline to threaten a retest of recent cyclical highs.