Koruna Holds Familiar Range With Presidential Campaign In Full Swing

EUR/CZK operates +0.020 at CZK24.021, hovering above new cyclical lows printed yesterday. Bulls look for gains past Jan 6 high of CZK24.109, which would open up the 50-DMA at CZK24.336. On the flip side, a dip through Jan 9 low of CZK23.927 would draw attention to Oct 30, 2008/Aug 12, 2008 lows of CZK23.700/23.682.

• The clock is ticking on Czechia's presidential campaign ahead of Friday's opening of the polling stations. The trio of leading candidates will face off in a televised debate tomorrow, the only one before the first round of voting that will involve former Prime Minister Andrej Babis.
• The latest Manpower survey showed that Czech employers are planning more layoffs than hires for 1Q2023 and are showing the biggest pessimism since 3Q2020. The authors of the survey noted that "employers are putting hiring on hold rather than planning mass layoffs."