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Koruna Little Changed Ahead Of Next Week's CNB Rate Decision

CZK

EUR/CZK trades +0.003 at CZK23.486 as participants await next week's CNB monetary policy decision. From a technical perspective, bulls look for gains past the 50-DMA at CZK23.573, while bears keep an eye on Apr 14 low of CZK23.207.

  • CZGB curve has bull steepened this morning, yields last sit 2.6-9.4bp lower. Data from the Finance Ministry showed that foreign holdings of local-currency bonds increased to 28.0% in March from 26.4% prior.
  • The PX index has tumbled, losing ~2.9% so far and piercing its 50-DMA in the process.

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