MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Koruna On Back Foot, Data Eyed Closer To Weekend

CZK

EUR/CZK has edged higher to last trade +0.027 at 24.327, snapping a four-day losing streak. A break above Oct 26, 2023/Jul 7, 2022 highs of 24.747/24.797 would allow bulls to regain the initiative. Conversely, bears look for a clean break below the 24.3 support area after the pair probed the water below there. Coming up next is the 38.2% retracement of the YtD range at 24.159.

  • Komercni banka wrote that the koruna may have benefited yesterday from an upward revision to Czechia's credit rating outlook (Moody's) announced just ahead of the weekend. It is worth adding that the decision was supported by the Czechia's fiscal consolidation efforts, which are imposing some political costs on the government.
  • There is little of note on the local data docket this week until the release of preliminary Q3 GDP data, as well as November S&P Global Manufacturing PMI and budget balance on Friday.
  • CZGBs are mostly slightly higher across the curve, with the short end posting heaviest losses.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.