Free Trial

Koruna Extends Losses, Inflation Slows In February

CZK

EUR/CZK has advanced for the third consecutive day and last trades +0.063 at CZK23.675. Topside technical focus falls on the 50-DMA, which kicks in at CZK23.784. Conversely, bears would be pleased by a resumption of losses towards Mar 1 low of CZK23.343.

  • CZGBs have turned bid across the curve, outperforming their CE3 peers. The yield curve runs steeper at typing. Local equity benchmark PX index has given away ~1% this morning.
  • The CNB yesterday kept the countercyclical buffer rate unchanged at 2.5% but said in a statement today that it is prepared to lower it if needed.
  • Czechia's inflation eased to +16.7% Y/Y in February, coming in marginally above the consensus forecast of +16.6%. The CNB will comment on the data later today.
  • Elsewhere, industrial output rose 1.3% Y/Y in January, missing the median estimate of +3.2%.

To read the full story

Close

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.