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Koruna Clings Onto Gains

CZK

EUR/CZK is close to erasing yesterday's advance and last changes hands -0.045 at CZK24.216, even as the local equity benchmark has given away its earlier gains.

  • The PX index flipped from gains into losses and finished marginally below neutral levels, snapping a six-day winning streak.
  • The CTK reported that 90% of Czech CEOs in a PwC survey said the country is heading into a recession. Many believe that the economy will shrink in 1H2023, while 40% think that this year has been the most difficult one in recent memory.

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