January 20, 2023 11:31 GMT
Koruna Shows Light Weakness But Stays Near Multi-Year Highs
EUR/CZK has edged higher and last changes hands +0.020 at CZK23.946, hovering just above multi-year lows printed yesterday. Bulls need further gains past the 50-DMA (CZK24.209) to get some reprieve, while bears keep an eye on yesterday's trough (CZK23.897). Should it give way, bears would take aim at Oct 30, 2008 low of CZK23.700.
- CZGB have advanced across the curve, with the belly of the curve underperforming. The PX index has added ~0.6% and is close to erasing yesterday's loss, albeit it continues to hold a familiar range.
- The local economic docket remains virtually empty, which means that the main focus remains on the presidential campaign. A Median survey showed that 82% of Czech voters are planning to participate in the second round of the election, which points to the potential for a record-breaking turnout.