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Koruna Fluctuates In Response To External Factors

CZK

EUR/CZK ticked higher alongside other EUR/CE3 pairs as weak French, German & EZ PMIs crossed the wires, but gains proved short-lived. The rate last operates +0.009 at CZK23.667, with bulls looking for another push towards Mar 17 high of CZK24.137. On the flip side, bears set their sights on Jun 6 low of CZK23.510.

  • A new poll showed that ANO would secure a plurality of seats in parliament if an election was held today, while the current governing coalition would fall short of absolute majority, with some of its constituent parties struggling to make it past the electoral threshold. While the next Czech general election is not due until 2025, is is worth monitoring popular reception of the government's austerity measures.
  • There has been little in the way of domestic price catalysts since the CNB's monetary policy decision announced on Wednesday. The minutes of that meeting will be released in one week's time.

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