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European PMIs Dent Koruna & Its Regional Peers

CZK

Bearish pressure on the psychological 24.00 barrier has subsided and EUR/CZK has moved away from there, with weak European PMI data weighing on the koruna today to support the pair's recovery. When this is being typed, EUR/CZK trades +0.040 at 24.134, with bulls looking to force a break above a resistance zone around the 24.30 figure. Conversely, the 200-DMA provides initial support at 23.837.

  • The latest Median opinion poll showed that ANO remains the most popular Czech political party and would garner 33% of the vote if an election was held today. Meanwhile, the coalition would reduce its foothold in the lower house to 92 MPs, nine short of absolute majority.
  • The Senate debates the government's pension reforms today, while the Cabinet discusses possible amendments to the fiscal consolidation package following consultations with trade unions and employers.

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