Koruna On Front Foot But EUR/CZK Remains Above 50-DMA

EUR/CZK has been under light pressure but continues to trend above its 50-DMA, which last intersects at 25.245. The pair last deals -0.044 at 25.282 and a breach of that moving average would bring the round figure of 25.000 and Jan 2 high of 24.867 into play. Bulls look for renewed gains towards Feb 15 high of 25.519.

• Local media reports pointed to the asymmetry in the pass-through from CNB monetary easing to the rates offered by commercial banks, with Lidove Noviny flagging relatively sharp reductions in interest rates on saving accounts, while Seznam Zpravy noted that mortgage rates are declining relatively gradually.
• Czechia's ex-auto price-adjusted retail sales rose 1.6% Y/Y in February vs. the revised +3.2% in January, beating Bloomberg consensus forecast of +2.3%.
• CZGBs are firmer across the curve, while the PX Index sits 0.4% lower on the session.