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Koruna Barely Changed, CNB Comments On GDP Report Eyed

CZK

EUR/CZK operates within a familiar range, struggling to break out of it despite the release of below-forecast GDP data. The rate changes hands +0.009 at 24.747, with bulls looking for gains past the 200-DMA (24.792) before targeting the 50-DMA (25.066) and the 100-DMA (25.103). On the flip side, bears keep an eye on Jan 8 low of 24.458.

  • Flash Q1 GDP readings proved weaker than expected, with the economy growing 0.2% Y/Y versus Bloomberg consensus forecast of +0.4% and the CNB's projection of +0.3% (+0.35% if rounded to two d.p.). The central bank will release comments on the latest GDP report at 12:00BST/13:00CEST.
  • CZGBs are slightly firmer at the short end, while the longer end is slightly weaker and the 5-7 sector underperforms. The PX Index is little changed on the session.
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