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CZK: Koruna Holds Steady, Nearby DMAs Draw Attention On Upside

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletEmerging Market NewsCzechia

EUR/CZK has recouped its earlier losses and trades flat at 25.128. From a technical standpoint, a clean break above the 200-DMA (25.138) would allow bulls to set their sights on the 100-DMA (25.198) and 50-DMA (25.235). On the downside, the focus is on the 25.0 area.

  • Czechia's benchmark policy rate will remain on hold at 4.00% at least until the next scheduled CNB meeting on February 6 after the Bank Board decided to pause its rate-cutting cycle last week. Governor Michl clarified that the Board keeps all options open for the February meeting and will likely decide between another pause and a cut.
  • Gauges of economic sentiment in Czechia undershot expectations this month amid downticks across the consumer and business spheres.
  • CZGB yields are mixed across the curve. The PX Index operates just above 1,750, close to recent cyclical highs, but struggling to move beyond them.
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EUR/CZK has recouped its earlier losses and trades flat at 25.128. From a technical standpoint, a clean break above the 200-DMA (25.138) would allow bulls to set their sights on the 100-DMA (25.198) and 50-DMA (25.235). On the downside, the focus is on the 25.0 area.

  • Czechia's benchmark policy rate will remain on hold at 4.00% at least until the next scheduled CNB meeting on February 6 after the Bank Board decided to pause its rate-cutting cycle last week. Governor Michl clarified that the Board keeps all options open for the February meeting and will likely decide between another pause and a cut.
  • Gauges of economic sentiment in Czechia undershot expectations this month amid downticks across the consumer and business spheres.
  • CZGB yields are mixed across the curve. The PX Index operates just above 1,750, close to recent cyclical highs, but struggling to move beyond them.