Free Trial

Koruna Retraces Earlier Losses, CNB Takes Focus This Week

CZK

EUR/CZK trades flat at 24.936 after refreshing cyclical highs at 25.036. A sustained move through the 25.000 figure would allow bulls to set their sights on the 38.2% retracement of the Mar 19, 2020 - Apr 14, 2023 sell-off at 25.043. Bears look for a pullback past Jan 2 high of 24.867 and towards Jan 8 low of 24.458.

  • The CNB will announce its next monetary policy decision on Thursday. A slight majority of analysts (14/24) polled by Bloomberg currently think that the Bank Board will lower the two-week repo rate by 25bp, even as two policymakers put the prospect of a bolder move on the table last week.
  • CZGB yields are mostly a touch higher across the curve, while the PX Index has added 0.4%.
124 words

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.

EUR/CZK trades flat at 24.936 after refreshing cyclical highs at 25.036. A sustained move through the 25.000 figure would allow bulls to set their sights on the 38.2% retracement of the Mar 19, 2020 - Apr 14, 2023 sell-off at 25.043. Bears look for a pullback past Jan 2 high of 24.867 and towards Jan 8 low of 24.458.

  • The CNB will announce its next monetary policy decision on Thursday. A slight majority of analysts (14/24) polled by Bloomberg currently think that the Bank Board will lower the two-week repo rate by 25bp, even as two policymakers put the prospect of a bolder move on the table last week.
  • CZGB yields are mostly a touch higher across the curve, while the PX Index has added 0.4%.