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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Koruna Edges Higher, Unemployment Rate Slips
EUR/CZK has faltered and last deals -0.030 at CZK23.613. Form a technical point of view, bears look for a dip through Jun 6 low of CZK23.510 before setting their sights on May 9 low of CZK23.340. On the flip side, bulls see May 19/Mar 28 highs of CZK23.797/23.820 as their initial target.
- Komercni banka said that "based on the preliminary data, in our opinion, the central bank did not intervene [in FX markets] in May." Official data released yesterday showed that the CNB conducted no interventions in April. Komercni banka think that the CZK's appreciation trend has been temporarily exhausted and EUR/CZK could recover to CZK23.8 over a one-year horizon.
- Coalition leaders believe that their pension reforms can pass in first reading, albeit the opposition announced that it will use parliamentary obstruction to slow down the process.
- Czechia's unemployment rate slipped to 3.5% in May, in line with expectations. This comes on the back of weak activity data released earlier this week.
To read the full story
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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.