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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.
CZK
EUR/CZK overnight implied volatility rose further, soaring through 10% this morning, with players awaiting the outcome of a "live" CNB meeting. The market is pricing a 50bp rate cut but sell-side analysts are leaning towards a 25bp move, with reasonably strong arguments in favour of either result doing the rounds. Click here to see our preview of the decision.
- Spot EUR/CZK sits -0.022 at 24.940, ticking away from the psychological 25.0 figure after flirting with it in the recent days. A deeper pullback past Jan 24 high of 24.919 and Jan 25 low of 24.716 would give bears some reprieve. Bulls see Feb 5 high/38.2% retracement of the 2020 - 2023 sell-off at 25.036/25.043 for initial resistance.
- Czechia's unemployment rate rose to 4.0% in January from 3.7% in December, topping the 3.9% consensus forecast.
Fig. 1: EUR/CZK vs. EUR/CZK Overnight Implied Volatility
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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