Free Trial

Koruna Firms Amid Continued Gains For Czech Stocks

CZK

EUR/CZK trades -0.028 at CZK24.232, having halved yesterday's gains. If the rate descends past Dec 21 low of CZK24.153, bears could set their sights on key support from Feb 3 YtD low of CZK24.094. On the flip side, a clearance of the 50-DMA (CZK24.345) would bring Nov 25 high of CZK24.426 into play.

  • The PX index has added ~0.2% and is on track to extend its six-day winning streak, with the 50% retracement of the Nov 14 - Dec 13 sell-off in sight. Elsewhere in CEE, Poland's WIG20 is slightly higher, while Hungary's BUX has slipped.
  • The belly of CZGB yield curve underperforms, with yields on most tenors sitting lower as we type. Benchmark 10-year yield sits near monthly highs.

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.