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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.
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Free AccessKoruna Tad Softer, Holds Familiar Range
EUR/CZK has been trading sideways in the second half of May and remains within a relatively narrow range. It last changes hands +0.033 at 24.698, with familiar technical levels still in play. A break above the 200-DMA (24.786) would expose the 50-DMA (25.089) & 100-DMA (25.101). Worth noting that the 50-DMA has just crossed below the 100-DMA, sending a bearish signal. On the downside, the focus is on Jan 8 YtD low of 24.458.
- CZGB yields sit slightly higher across the curve, albeit the short end has now largely retraced initial losses. The Finance Ministry is looking to sell up to CZK5bn of 3.0% 2033 bonds, up to CZK3bn of 3.5% 2035 bonds, and up to CZK1bn of 1.5% 2040 bonds at an auction today.
- A Bloomberg survey showed that the median forecast for the level of the CNB's key policy rate by end-2024 has shifted higher to 4.75% in Q2 from 4.25% in Q1.
- The PX Index edges higher after failing to dip through support from its 50-DMA.
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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.