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Koruna Slips Despite Wider Than Forecast Trade Surplus

CZK

EUR/CZK trades +0.016 at CZK23.441 as the recently evident selling pressure has eased. Bulls initially look for recovery above Mar 28 high of CZK23.820. Conversely, bears keep an eye on Mar 1 low of CZK23.343.

  • Taking a lead from core FI space, CZGBs have lodged some gains. Meanwhile, the PX index has added ~0.8% so far and printed a new one-month high, after closing above its 50-DMA yesterday.
  • Czechia's industrial output fell in line with expectations, rising 2.0% Y/Y in February versus +0.9% prior. Trade surplus widened to +14.3bn (a two-year high) from +9.2bn, topping the +8.4bn consensus forecast.

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