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EUR/CZK Little Changed Amid Scarcity Of Domestic Catalysts

CZK

EUR/CZK trades flat at 24.014, with the local docket offering nothing in the way of notable catalysts. Global risk environment this week will likely be shaped by further signals on China's economic recovery and the Jackson Hole symposium in the US.

  • Technically, bears look for a sustained move through the 24.00 figure towards the 200-DMA, which intersects at 23.839. On the flip side, the focus falls on the area around 24.30, which capped gains earlier this month.
  • CZGB curve runs slightly steeper, with the 7-10 sector underperforming, while the short-end has lodged some gains. The PX Index has added ~0.3% this morning.
  • National Economic Council's Petr Zahradnik told Seznam Zpravy that it would be "almost a miracle" if inflation eased to +2% Y/Y at the turn of the year, pointing to an overheated labour market and limited competition in the retail market.

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