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Koruna Slips Alongside Regional Peers

CZK

CE3 currencies are trading on the back foot this morning, with EUR/CZK last seen +0.081 at 24.702. A clearance of Jan 2 high of 24.867 would reignite bullish impetus. Bears look for a dip through the 50-EMA at 24.538 towards Nov 29 low of 24.203.

  • There has been little in the way of market-moving headlines coming out of Czechia today, with CEZ leadership and government ministers set to discuss the procurement of a new nuclear reactor tomorrow. Elsewhere, German data confirmed that the EZ's largest economy contracted by 0.3% Y/Y in the full 2023, in line with expectations.
  • CZGB yields are mixed, with belly underperforming. The PX Index is little changed.

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