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Koruna Little Changed, 50-DMA Supports EUR/CZK


EUR/CZK found support in its 50-DMA yesterday, which testifies to the significance of this moving average after it repeatedly capped gains last year. The rate last operates +0.003 at CZK23.798, with bears seeking a clean breach of the 50-DMA (CZK23.761) before setting their sights on Mar 1 multi-year low located further to the downside at CZK23.343. Conversely, bulls need a jump above Mar 17 high of CZK24.137 to reignite topside momentum.

  • CZGB curve has bear flattened in morning trade, with yields last seen 1.1-12.3bp higher. Local equity benchmark PX index has struggled to test its 50-DMA and last trades ~0.2% below neutral levels.
  • There is little in the way of notable local risk events scheduled for today.

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