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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.
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Free AccessMNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
MNI INTERVIEW2: Poland To Push For EU Defence Fund
Koruna Sell-Off Halts After CNB Comments, Participants Look For More
EUR/CZK paused its rally amid a flurry of comments from CNB members, who pushed back against overdone rate-cut wagers. It is unclear if it was a coordinated verbal intervention, but three policymakers spoke after the pair broke firmly above the 24.00 figure. Its corrective pullback yesterday allowed the pair to unwind overbought technical conditions, with the RSI returning below 70.
- EUR/CZK last deals -0.006 at 24.070, looking for fresh catalysts. On the topside, the focus is on Dec 30, 2022 high/23.6% retracement of the 2020-2022 sell-off at 24.336/24.341. Meanwhile, bears look for a move towards 23.745, which limited losses earlier this month.
- CZGB curve has steepened today, with yields sitting -3.6bp to +6.8bp. The Finance Ministry is offering CZK13bn of bonds maturing in 2029, 2031 and 2034 at an auction today.
- Participants are on the lookout for more comments from the CNB ahead of the beginning of the media blackout tomorrow.
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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.