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Koruna Stable In Holiday-Thinned, Pre-CNB Trade

CZK

EUR/CZK deals +0.008 at 25.155 in holiday-thinned trade, with familiar technical levels still in play. A break above the 50-DMA (25.284) would open up Feb 15 high of 25.519. On the flip side, bears look for losses past the round figure of 25.000.

  • There has been little of note on the wires in terms of local news, but Czechia will release its April budget balance tomorrow, while S&P Global will publish the latest results of the country's Manufacturing PMI survey.
  • Otherwise, the CNB's rate decision is poised to steal attention tomorrow. The Bank Board will announce the decision at 13:30BST/14:30CEST (consensus: -50bp) before a press conference with Governor Michl. See our preview here.
  • On the political front, it is worth noting that the government approved contentious reforms of the pension system as part of its push to reduce debt. The bill will now be submitted to parliament for further deliberations.

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