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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
- This morning, economic data to watch is CPI inflation (9am CET), expected to accelerate to 17.9% YoY in July, up from 17.2% the previous month.
- The CNB will then comment on the inflation print at 1pm CET (as usual).
- Yesterday, economic data showed that Czech central bank sold another 7.1bn USD of reserves in June to prevent CZK weakness.
- We saw that the new board is more keen on intervening on FX market to ‘support’ the domestic currency than hiking rates as leading economic indicators have been pricing in a significant deterioration in the business activity in the coming months.
- Czech FX reserves are now down nearly 28bn USD since their all-time high of 175.4bn USD reached in Q1 (prior the Ukraine war).
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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