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Inflation Surges To Highest Level Since May 1998

CZECHIA
  • This morning, economic data showed that inflation accelerated to 12.7% in March, its highest level since May 1998, up from 11.1% the previous month.
  • CNB member Benda wrote in an opinion column over the week that taming inflation is CNB top priority.
  • EURCKZ has been trending lower in the past few days, currently trading below the 24.50 level. ST support to watch on the downside stands at 24.27, followed by 24.09. On the topside, resistance to watch above 24.50 stands at 24.69 (50DMA).
  • Czech 10Y yield continues to retrace higher this morning, breaking above the 4% level (Nov 2011 highs). Next resistance to watch on the topside stands at 4.32%.

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