MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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CZK: Koruna Tad Softer, CNB's Zamrazilova Comments On Rate Outlook

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK advances for the second consecutive day, last changing hands +0.040 at 25.395, and a clearance of Nov 6 high of 25.449 would allow bulls to target key resistance from Aug 1 high of 25.535. On the downside, bears continued to look for losses past the 50-DMA (25.264) and the 100-DMA (25.237).

  • CNB Deputy Governor Zamrazilova told ExportMag that there is still room to reduce interest rates but it is already narrowing. She discussed the interest-rate outlook in more detail in the latest interview with MNI, flagging the possibility of a hold in December. Note that Zamrazilova voted for a pause in November, but was alone in her call.
  • CZGB yields are lower across the curve, with 7s outperforming. The PX Index refreshed cyclical highs but then promptly pulled back and last sits 0.2% shy of the previous close.
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EUR/CZK advances for the second consecutive day, last changing hands +0.040 at 25.395, and a clearance of Nov 6 high of 25.449 would allow bulls to target key resistance from Aug 1 high of 25.535. On the downside, bears continued to look for losses past the 50-DMA (25.264) and the 100-DMA (25.237).

  • CNB Deputy Governor Zamrazilova told ExportMag that there is still room to reduce interest rates but it is already narrowing. She discussed the interest-rate outlook in more detail in the latest interview with MNI, flagging the possibility of a hold in December. Note that Zamrazilova voted for a pause in November, but was alone in her call.
  • CZGB yields are lower across the curve, with 7s outperforming. The PX Index refreshed cyclical highs but then promptly pulled back and last sits 0.2% shy of the previous close.