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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
- The CNB minutes from May 5 meeting showed that four policymakers pondered a 100bps hike, including Governor Rusnok (the other three are Mora, Benda and Holub).
- As expected, CNB ‘doves’ Michl and Dedek were against a hike at the latest meeting.
- Yesterday, CZK received strong support after the CNB commented that it has been intervening in the FX market to support the koruna.
- EURCZKfell back below its 200DMA and is currently trading slightly below the 25 level.
- The chart below shows that EURCZK found resistance at around the 25.48 level this week, which corresponds to the 38.2% Fibo retracement of the 24.09 – 27.72 range.
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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