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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
- In the past few months, we have seen that the hawkish CNB tone has been strongly supporting cyclical equities (i.e. financials), partly driven by the rise in ST bond yields and broad CZK strength.
- Czech equities (PX Index) broke above their 1,317 resistance to trade at a 13-year high this month.
- Unlike Hungarian equities, which have been recently trading at an all-time high, Czech equities are still standing far below their 1,944.30 record high reached in October 2007.
- Next resistance to watch on the topside stands at 1,400, followed by 1,433.41, which represents the 61.8% Fibo retracement of the 606.90 – 1,944.30 range.
- The CNB is meeting this week (Sep 30) and is very likely to raise its benchmark rate by 50bps to 1.25%.
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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