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Koruna On Back Foot Alongside Regional Peers

CZK

The koruna has softened alongside its regional peers, with EUR/CZK last seen trading +0.032 at 25.248. The 50-DMA continues to provide the immediate layer of resistance at 25.312, followed by Feb 15 high of 25.519. Conversely, bears look for losses past Mar 18 low of 25.087 and towards the round figure of 25.000. In the grand scheme of things, the rate continues to trade sideways above levels from the CNB's most recent forecast.

  • For the record, a new forecast will be released alongside the CNB's rate decision next week. On a related note, the central bank will enter its media blackout period tomorrow afternoon.
  • CZGB yields have ticked higher across the curve ahead of a bond auction, with CZK8bn of debt maturing in 2033 and 2035 on offer.
  • Economic sentiment in Czechia improved more than expected, with both consumers and businesses signalling greater optimism about the economy.
  • The main opposition ANO party continues to lead in opinion polls, per the latest Median survey, as parties prepare for the upcoming European election.
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