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Koruna Tad Weaker, Presidential Race In Focus


EUR/CZK changes hands +0.013 at CZK23.823, moving away from the 14-year low printed earlier this week at CZK23.755. Should the rate manage to break above its 50-DMA (CZK24.155), bulls could hope for a firmer rebound. Conversely, bears set their sights on Oct 30, 2008 low of CZK23.700.

  • The PX index has oscillated around neutral levels, printing new cyclical highs in the process, and last sits marginally higher on the session. CZGBs have weakened and trade 3.3-8.8bp cheaper across the steepened curve.
  • All eyes are on the Czech presidential run-off, with Petr Pavel still seen as a clear frontrunner. Otherwise, the local calendar is rather empty today.

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