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/CZK: Psychological Figure Gives Way As Pair Sinks To All-Time Lows

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Following a bearish 50-/100-DMA crossover last week, spot PLN/CZK has sold off past support from the CZK5.0160/5.0097 area, which cushioned losses in October and July. A clean breach of that zone opened the scope for the pair to lodge new all-time lows today at CZK4.9886, with the psychological CZK5.0000 figure now in rearview mirror.

  • PLN/CZK last deals at CZK4.9959, 318 pips below the prior close. It has faltered past its lower 2.0% Bollinger band, while the RSI has moved into oversold territory, suggesting that the current sell-off might be overextended.
  • POLGB yields have surged across the curve as local-currency bonds underperform CE3 peers. Benchmark 10-year POLGB/CZGB yield differential has expanded to fresh two-week wides as a result.
  • Czech policymakers left interest rates unchanged last week and their Polish colleagues are expected to follow suit tomorrow, which turns focus to any divergence in the accompanying language.
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Following a bearish 50-/100-DMA crossover last week, spot PLN/CZK has sold off past support from the CZK5.0160/5.0097 area, which cushioned losses in October and July. A clean breach of that zone opened the scope for the pair to lodge new all-time lows today at CZK4.9886, with the psychological CZK5.0000 figure now in rearview mirror.

  • PLN/CZK last deals at CZK4.9959, 318 pips below the prior close. It has faltered past its lower 2.0% Bollinger band, while the RSI has moved into oversold territory, suggesting that the current sell-off might be overextended.
  • POLGB yields have surged across the curve as local-currency bonds underperform CE3 peers. Benchmark 10-year POLGB/CZGB yield differential has expanded to fresh two-week wides as a result.
  • Czech policymakers left interest rates unchanged last week and their Polish colleagues are expected to follow suit tomorrow, which turns focus to any divergence in the accompanying language.