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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.
EM FX
- Monetary policy divergence between NBP and CNB continues to push CZKPLN to new highs, with the pair currently testing its key resistance at 0.18.
- While the CNB raised its policy rate (as expected) by another 25bps to 0.75% last week to curb inflationary pressures, the NBP continues to delay its tightening cycle as the uncertainty over the economic recovery remains elevated.
- At this stage, the majority of the NBP board (including Governor Glapinski) still aims to keep interest rates low while the economic recovery is taking place.
- A break above the 0.18 level would open the door for a move up to 0.1834, which corresponds to the pair's all time high reached in December 2011.
- On the downside, first support stands at 0.1784, followed by 0.1776 (50DMA).
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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