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Koruna Steady Amid Thin Local Headline Flow


EUR/CZK trades -0.003 at CZK23.651 with Czech headline flow limited ahead of the weekend. Familiar technical levels remain in play, with bears keeping an eye on Feb 15 low of CZK23.615, followed by Aug 1, 2008 low of CZK23.445. Conversely, bulls look for recovery past the 50-DMA at CZK23.920.

  • Looking at the local markets, CZGB yield curve has bull flattened at the margin. The PX index has edged higher this morning.
  • Overall confidence in the Czech economy slipped this month due to a decline in business sentiment, even as consumer confidence improved. The local statistics bureau noted that "industrial entrepreneurs' confidence in February dropped to its lowest value since June 2020," while "consumer sentiment as a whole remains well below its long-term average."

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