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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.
CZECHIA
- CZK has been strengthening against the major crosses ahead of the CNB meeting on Thursday (Nov 4), with consensus expecting a 75bps hike.
- CZKJPY has been retracing higher in the past few days after receiving support at the 100DMA last week; next resistance to watch on the topside stands at 5.20, followed by 5.23 (LT downward trending resistance line).
- On the downside, first support stands at 5.1220 (50DMA), followed by 5.1110 (100DMA) and 5.08 (23% Fibo retracement of the 4.4360 – 5.28 range).
- As business and consumer sentiment indicators have been falling in recent months amid rising Covid uncertainty, CNB policymakers could vote for a smaller hiker (i.e. 50bps), which would be negative for CZK.
Source: Bloomberg/MNI
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.
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