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Koruna Refreshes Cyclical Highs, Equity Benchmark Keeps Pushing Higher

CZK
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EUR/CZK remains heavy and last deals -0.035 at CZK23.833, after lodging new 14-year lows at CZK23.820. The next layer of support is located at CZK23.700, which limited losses on Oct 30, 2008. On the flip side, bulls look for a rebound towards the 50-DMA, which intersects at CZK24.179.

  • CZGBs are generally firmer across the curve, with core FI and other regional bonds also showing some strength. The PX index has added 0.75%, printing new cyclical highs as a result.
  • Outgoing CNB policymaker Oldrich Dedek reiterated that he considers the current level of interest rates to be appropriate, noting that it helps tame demand-side price pressures.
  • The local economic docket is very light today. The presidential campaign is drawing to an end, with polling stations set to open on Friday.
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EUR/CZK remains heavy and last deals -0.035 at CZK23.833, after lodging new 14-year lows at CZK23.820. The next layer of support is located at CZK23.700, which limited losses on Oct 30, 2008. On the flip side, bulls look for a rebound towards the 50-DMA, which intersects at CZK24.179.

  • CZGBs are generally firmer across the curve, with core FI and other regional bonds also showing some strength. The PX index has added 0.75%, printing new cyclical highs as a result.
  • Outgoing CNB policymaker Oldrich Dedek reiterated that he considers the current level of interest rates to be appropriate, noting that it helps tame demand-side price pressures.
  • The local economic docket is very light today. The presidential campaign is drawing to an end, with polling stations set to open on Friday.