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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.
CZK
The koruna has recouped its earlier losses and EUR/CZK trades -0.012 at 24.018, hovering just above the 24.00 figure. Should this level give way, bears could target the 23.745 support area.
- Governor Ales Michl fired the final salvo of comments before the start of the CNB's media blackout as the countdown starts for next week's monetary policy decision. The official doubled down on the recent pushback by CNB officials against dovish market wagers, noting that the CNB needs to remain hawkish with inflation at its current levels.
- Czechia's central bank is expected to keep interest rates unchanged next Thursday. Market participants will scrutinise the updated forecast (a CNB official recently offered a glimpse into the expected inflation path) as well as the Bank Board's rhetoric, after CNB's Jan Frait said that the forward guidance could be made symmetric.
Fig. 1: 3-Month PRIBOR vs. CZK FRAs
Source: MNI - Market News/Bloomberg
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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