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Koruna Inches Higher, PX Index Eases Off Cycle Highs

CZK

EUR/CZK trades with a slight bearish bias, last sitting -0.005 at CZK23.698. The rate has oscillated, printing a new multi-year low at CZK23.657 in the process. Losses past Aug 1, 2008 low of CZK23.445 would bring Jul 21, 2008 low of CZK22.877 into view. On the flip side, bulls look for a jump above the 50-DMA, which kicks in at CZK24.004.

  • CZGB yields are mostly higher, even as they have reduced earlier gains. The PX index has pulled back from cyclical highs and last trades ~0.6% below yesterday's close.
  • Czech headline flow has moved into a lower gear, with no major data releases expected through the remainder of this week. The Cabinet is set to debate the fresh economic forecasts today.

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