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Koruna Inches Higher Amid Light Local Docket

CZK

EUR/CZK trades -0.019 at CZK23.682, ticking away from a multi-week high printed at CZK23.797. On the downside, the next technical target is provided by CZK23.340, which limited losses on May 9. Conversely, a break above May 19/Mar 28 highs of CZK23.797/23.820 would draw attention to Mar 16 high of CZK24.101.

  • CZGBs are notably weaker across the curve, with 7s underperforming. The PX index is marginally firmer on the day.
  • The local calendar is virtually empty today, which shifts the focus to offshore developments.
  • On the data front, Czech business and consumer sentiment gauges will hit the wires tomorrow morning.

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