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CZK: Koruna Finds Poise, EUR/CZK Bears Eye 25.0 Mark

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK has snapped its three-day winning streak and last deals -0.041 at 25.077, which turns the focus to the 25.0 figure again. The pair recently approached this figure on Feb 14 but bottomed out at 25.009 and failed to test it. On the topside, the focus is on 25.317, which capped gains on Jan 17.

  • The CNB's board holds its regular non-decision meeting today, with no communique scheduled afterwards. Note that Governor Michl recently recirculated his idea to look into options of investing part of the CNB's reserves into alternative asset classes.
  • The CBA trimmed its GDP growth forecasts for Czechia by 0.2pp to +2.1% and +2.4% for 2025 and 2026 respectively and cited additional downside risks from potential trade wars (-0.3pp each year).
    • The CNB currently expects growth to average at +2.0% this year and +2.4% next year, as per the Winter Forecast released earlier this month.
  • CZGB yields have faltered across the curve, with 7s outperforming as we type. The PX Index is under modest pressure, slipping below the 2,000 mark after recently breaching it for the first time ever.
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EUR/CZK has snapped its three-day winning streak and last deals -0.041 at 25.077, which turns the focus to the 25.0 figure again. The pair recently approached this figure on Feb 14 but bottomed out at 25.009 and failed to test it. On the topside, the focus is on 25.317, which capped gains on Jan 17.

  • The CNB's board holds its regular non-decision meeting today, with no communique scheduled afterwards. Note that Governor Michl recently recirculated his idea to look into options of investing part of the CNB's reserves into alternative asset classes.
  • The CBA trimmed its GDP growth forecasts for Czechia by 0.2pp to +2.1% and +2.4% for 2025 and 2026 respectively and cited additional downside risks from potential trade wars (-0.3pp each year).
    • The CNB currently expects growth to average at +2.0% this year and +2.4% next year, as per the Winter Forecast released earlier this month.
  • CZGB yields have faltered across the curve, with 7s outperforming as we type. The PX Index is under modest pressure, slipping below the 2,000 mark after recently breaching it for the first time ever.