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Koruna On Lookout For Fresh Catalysts, PX Index Slips

CZK

The Czech Koruna outperforms the greenback but lags the euro, with domestic headline flow offering little of real note.

  • EUR/CZK last sits at CZK24.35 and is close to erasing yesterday's losses. Further gains past Nov 17/18 highs of CZK24.41 would support the bullish case. Conversely, bears look for a retreat under Nov 8 low of CZK24.24.
  • USD/CZK last seen at CZK23.69, returning below its 200-DMA after Monday's close above that moving average. The low print of Nov 15 provides the initial bearish target at CZK23.20, while bulls take aim at the 100-DMA/Nov 10 high at CZK24.47/24.53.
  • The PX index has shed ~0.3% this morning as the recent correction of the Oct 3 - Nov 14 bull run extends further. This contrasts with gains for Hungary's benchmark BUX index and Poland's WIG 20.
  • FinMin Stanjura told public TV channel CT24 that the government is preparing to announce a CZK30bn-50bn energy price cap programme for large businesses, with the specific parameters to be approved within a month.
  • It is a quiet start to the week in Czechia, with little in the way of notable data releases. The CSO will publish its business & consumer sentiment gauges Thursday.
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The Czech Koruna outperforms the greenback but lags the euro, with domestic headline flow offering little of real note.

  • EUR/CZK last sits at CZK24.35 and is close to erasing yesterday's losses. Further gains past Nov 17/18 highs of CZK24.41 would support the bullish case. Conversely, bears look for a retreat under Nov 8 low of CZK24.24.
  • USD/CZK last seen at CZK23.69, returning below its 200-DMA after Monday's close above that moving average. The low print of Nov 15 provides the initial bearish target at CZK23.20, while bulls take aim at the 100-DMA/Nov 10 high at CZK24.47/24.53.
  • The PX index has shed ~0.3% this morning as the recent correction of the Oct 3 - Nov 14 bull run extends further. This contrasts with gains for Hungary's benchmark BUX index and Poland's WIG 20.
  • FinMin Stanjura told public TV channel CT24 that the government is preparing to announce a CZK30bn-50bn energy price cap programme for large businesses, with the specific parameters to be approved within a month.
  • It is a quiet start to the week in Czechia, with little in the way of notable data releases. The CSO will publish its business & consumer sentiment gauges Thursday.