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Free AccessKoruna Tad Firmer After Volatile Start
EUR/CZK last trades -0.035 at CZK23.938 after some above-normal volatility seen earlier in the day. Bears would like to see the pair ease off through its 50-DMA (CZK23.768) and towards Mar 1 low of CZK23.343. Meanwhile, a sustained break above Jan 23 high of CZK24.116 would expose the 200-DMA/Dec 30 high at CZK24.307/24.336.
- CZGBs are 2.5-6.1bp cheaper across the curve, losing ground alongside POLGBs. The PX index has added ~0.6%, gaining for the second consecutive day, but is yet to test yesterday's highs.
- ING recommended shorting EUR/CZK on the view that the Czech Koruna will "benefit most from a reduction in risk aversion among CEE peers, and from lower energy prices," which is likely lending some support to the CZK today.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.