Free Trial

Koruna Appreciates After 50-DMA Gives Way


EUR/CZK extends recent losses and last deals -0.035 at CZK23.679 after closing below support from its 50-DMA yesterday. Bears look for a continued slide towards CZK23.343, which limited losses on Mar 1 marking a new multi-year low. Bulls need a jump above Mar 17 high of CZK24.137 to regain the upper hand.

  • CZGB curve has steepened in morning trade, with yields last seen -7.7bp to +2.7bp at typing. Local equity benchmark PX index operates ~0.8% below neutral levels.
  • Looking ahead, the CNB will announce its rate decision next Wednesday and are expected to keep interest rates unchanged. Participants added some hawkish bets yesterday as Dep Gov Zamrazilova said expectations of 2023 rate cuts may be overdone.

To read the full story



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.