June 05, 2024 10:17 GMT
Koruna Strengthens, Domestic Data In Focus
CZK
EUR/CZK stays in a well-defined range since its sell-off lost steam in mid-May. The rate last deals -0.038 at 24.675, with bears eyeing further sales past Jan 8 low of 24.458. Bulls look for a rebound above the 200-DMA, which provides the initial layer of resistance at 24.800.
- Domestic data take focus locally amid little in the way of other notable headlines. Expectation-beating wage data released yesterday seemingly led some desks to expect a slowdown in CNB rate cuts to 25bp/meeting as soon as this month. There was less of a reaction to April retail sales released this morning, which fell slightly short of expectations. Tomorrow the CZSO will release construction output, industrial production and trade balance for April.
- CZGB yields sit a tad higher across the curve. The PX Index is little changed on the day.
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