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Koruna Inches Higher, Czech Jobless Rate Slips

CZK

EUR/CZK changes hands -0.009 at CZK23.395, with familiar technical levels in play. Bearish focus falls on Apr 14 low of CZK23.207, while bulls set their sights on May 1 high of CZK23.705.

  • Finance Minister Stanjura told President Pavel that the "long, hard negotiations are basically behind us" when it comes to an austerity package that is being finalised by the ruling coalition. The government is expected to present its proposals tomorrow at 10:55BST/11:55CEST.
  • Czechia's unemployment rate fell to 3.6% in April from 3.7% prior, matching expectations. The local labour market remains among the tightest in the European Union, which complicates the CNB's efforts to contain inflation.
  • The central bank published data implying that it refrained from FX interventions for the fifth consecutive month in March.

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