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CZK: Koruna Builds on Monday’s Gains But EURCZK Still Above Pre-Dec CPI Levels

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

Despite broad weakness across EM FX on the back of Trump’s tariff comments, CZK stands out as an outperformer in the EMEA space, with the currency building on yesterday’s gains versus the greenback.

  • USDCZK is trading close to yesterday’s lows at typing, near the 50-day EMA at 24.09 – an average we have not closed below since early October. EURCZK, meanwhile, is now 0.75% lower compared to last week’s highs, but the cross still remains above levels seen prior to the dovish December CPI release.
  • There is little in the way of tier-1 data releases in the Czech calendar this week, which should keep the focus on global developments as the new US administration takes office. The CNB do not meet until Feb 6.
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Despite broad weakness across EM FX on the back of Trump’s tariff comments, CZK stands out as an outperformer in the EMEA space, with the currency building on yesterday’s gains versus the greenback.

  • USDCZK is trading close to yesterday’s lows at typing, near the 50-day EMA at 24.09 – an average we have not closed below since early October. EURCZK, meanwhile, is now 0.75% lower compared to last week’s highs, but the cross still remains above levels seen prior to the dovish December CPI release.
  • There is little in the way of tier-1 data releases in the Czech calendar this week, which should keep the focus on global developments as the new US administration takes office. The CNB do not meet until Feb 6.