MNI BRIEF: European Fiscal Board Calls For Fiscal Tightening

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI China Daily Summary: Wednesday, July 3

MNI BRIEF: NBP Holds Reference Rate At 5.75% As Expected

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

US EIA: CRUDE OIL STOCKS EX SPR -12.16M TO 448.5M JUN 28 WK

Unexpected Factory Orders Drop Further Sign Of Softening Goods Output

MNI: US MAY FACTORY ORDERS -0.5%; EX-TRANSPORT NEW ORDERS -0.7%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Koruna Appreciates Ahead Of CNB Meeting This Week

CZK

EUR/CZK is under pressure today and last operates -0.044 at 24.364, approaching its recent lows. Bears look for a move towards the 23.6% retracement of the YtD upswing/former resistance zone at 24.316/24.300. In the EMEA FX space, PLN and CZK are among the best performers, while their CE3 peer HUF lags behind.

  • CZGB curve has bear flattened, with the short end suffering heaviest losses as 2s cheapen by 14.5bp. This coincides with upticks in Czech FRAs, albeit in this case the move is more evident further out the curve, with 3x6 contracts virtually unchanged.
  • The government announced that it will reduce bond issuance to CZK29bn next month from this month's target of up to CZK31bn. The indicative bond supply for the whole Q4 is up to CZK100bn.
  • All eyes are on the CNB this week, even as the central bank is expected to keep interest rates unchanged (click here to see our preview). The Bank Board may shed some light on its strategy for future monetary easing.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.