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Koruna Lags CE3 Peers As CNB Comments Keep Trickling Through

CZK

EUR/CZK last changes hands -0.007 at 24.652, staying in the vicinity of its recent cyclical highs. Bears look for a dip through Sep 29 low of 24.306 and the 24.3 area. On the flip side, the focus is on 24.727, which capped gains on Oct 12.

  • CZGB curve has steepened amid outperformance at the short end of the curve, with 2s richening by 2bp. Czech FRAs dropped across the curve. The PX Index has added 0.4%, hitting new two-month highs.
  • Czech policymakers participate in a Discussion Forum in Zlin. Governor Ales Michl left all options open for the coming two meetings, with decisions depending on incoming data and the November macroeconomic forecast. Bank Board's Jan Kubicek then said that he would prefer to ease monetary policy in small, gradual steps.
  • The Chamber of Deputies is expected to reject the no-confidence motion tabled by the main opposition ANO movement against Prime Minister Petr Fiala's government.
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