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CZK: Koruna Trades Flat, Industrial PPI Misses Expectations

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EUR/CZK last deals at 25.139, little changed on the day. The pair appears to have found a base in the 25.0 area and broke above the upper limits of its earlier trading range towards the end of last week. Bulls now look for a breach of the 50-DMA at 25.209, which would confirm that topside momentum is picking up again. Bears need a dip through 25.0 to regain the initiative.

  • Agriculture Minister Marek Vyborny told Seznam Zpravy that the government will not postpone regional and senate elections slated for this weekend despite heavy flooding and they will go ahead as planned. The matter was discussed at yesterday's meeting of a special task force which deals with the ongoing floods. The panel concluded that delaying the elections would require the consent of the Chamber of Deputies, which would have to meet today at the latest.
  • Czechia's industrial PPI inflation printed at +1.1% Y/Y in August, missing the +1.5% consensus forecast. Komercni banka commented that "the dynamics of production prices will continue to be dampened by weak domestic and foreign demand," while "energy prices still have room to fall."
  • CZGB curve runs slightly steeper as longer-end yields have more than recouped initial losses. The PX Index operates 0.3% below neutral levels, sandwitched between its 50- and 100-DMAs.
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EUR/CZK last deals at 25.139, little changed on the day. The pair appears to have found a base in the 25.0 area and broke above the upper limits of its earlier trading range towards the end of last week. Bulls now look for a breach of the 50-DMA at 25.209, which would confirm that topside momentum is picking up again. Bears need a dip through 25.0 to regain the initiative.

  • Agriculture Minister Marek Vyborny told Seznam Zpravy that the government will not postpone regional and senate elections slated for this weekend despite heavy flooding and they will go ahead as planned. The matter was discussed at yesterday's meeting of a special task force which deals with the ongoing floods. The panel concluded that delaying the elections would require the consent of the Chamber of Deputies, which would have to meet today at the latest.
  • Czechia's industrial PPI inflation printed at +1.1% Y/Y in August, missing the +1.5% consensus forecast. Komercni banka commented that "the dynamics of production prices will continue to be dampened by weak domestic and foreign demand," while "energy prices still have room to fall."
  • CZGB curve runs slightly steeper as longer-end yields have more than recouped initial losses. The PX Index operates 0.3% below neutral levels, sandwitched between its 50- and 100-DMAs.