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Koruna Inches Higher, Holds Familiar Range

CZK

EUR/CZK continues to trend above its 50-DMA, last trading -0.008 at 25.296. A break below that moving average (25.222) and round figure support (25.000) would open up Jan 2 high of 24.867. Conversely, bulls look for gains towards Feb 15 high of 25.519.

  • CZGB curve has bear flattened ahead of today's auction for CZK8bn of sovereign bonds maturing in 2033 and 2034. The PX Index is little changed, operates close to its recent cyclical highs.
  • The local data docket is empty until Friday, when the CZSO will release February retail sales data.

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