Free Trial

CZK: Strong Gains Bring Mar 15 High Into View

PLN

PLN/CZK has posted strong gains today as the two sides of the pair now sit at the opposite ends of the EMEA pile, despite little in the way of outright headline catalysts. Relative central bank dynamics take a back seat, with the NBP and CNB not due to announce their next rate decisions until early May. Meanwhile, regional media outlets have been recently focusing on the issue of Ukrainian grain imports.

  • The rates has punched through its 100-DMA and the 76.4% retracement of the Mar 15 - Apr 11 sell-off and last changes hands +331 pips at PLN5.1046. It is now heading towards the 200-DMA/Mar 15 high located at PLN5.1233/5.1319 and a clean break here would suggest that bullish momentum is building.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.