Free Trial

Koruna Inches Higher But Lags Regional Peers

CZK

EUR/CZK has edged lower as the koruna regains poise following yesterday's data-induced sell-off. Better appetite for CE3 FX may be supporting the Czech currency, albeit it lags behind both PLN and HUF.

  • The pair last operates -0.008 at 24.558, with bears looking for a move through Sep 29 low of 24.306, located within the significant 24.3 support area. Bulls keep an eye on Sep 12, 2023/Sep 29, 2022 highs of 24.659/24.700.
  • CZGB yields are broadly lower today, with a degree of curve flattening evident. Czech FRAs continue to lose altitude, with 3x6 contracts refreshing cyclical lows.
  • The lower house of parliament has resumed debate on the government's fiscal consolidation package, which Prime Minister Fiala's administration wants approved by the end of this week.
  • The proposal to move Czechia's embassy to Israel has caused some tensions in the ruling coalition, with Prime Minister Fiala and Foreign Minister Lipavsky taking divergent stances on the matter.

To read the full story

Close

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.