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Koruna Tad Firmer, 50-DMA Continues To Support EUR/CZK Price Action

CZK

EUR/CZK sits -0.046 at 25.381 and the 50-DMA remains the key layer of immediate support at 25.291. A break here would bring round figure support (25.000) and Jan 2 high (24.867) into view. Conversely, Feb 15 high of 25.519 provides the initial bullish target.

  • Labour and Social Affairs Minister Marian Jurecka said that he is considering changes to the length of the probationary working period as part of wider adjustments to the Labour Code, but he is facing opposition from the unions.
  • There is little of note on Czechia's economic docket today, with investors awaiting the outcome of the ECB meeting. The country's current account balance for February will be released tomorrow morning.
  • CZGB yields are broadly higher across the curve, while the PX Index has inched lower failing to break sustainably above the 1,550 level.

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