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Koruna Advances Ahead Of Inflation Data Tomorrow


EUR/CZK posted a knee-jerk higher overnight amid low liquidity, but has held a relatively tight range since. The rate last deals -0.018 at 23.841 and downside technical focus falls on Jun 27 low of 23.573. On the flip side, Mar 17 high of 24.137 provides the near-tern bullish target.

  • Czech lawmakers approved the government's proposal to raise excise tax on diesel in order to boost budget revenues. Parliament is currently debating a whole legislative package designed to curb budget deficits.
  • Czechia's unemployment rate fell by 0.1pp to 3.4% in June, confirming that the local labour market remains very tight. Tomorrow's CPI readings will provide more interest from the CNB's point of view.

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