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Koruna Tad Weaker, Retail Sales Shrink Again


EUR/CZK has inched higher today, moving in sync with EUR/PLN, and last trades +0.033 at CZK23.786, off the CZGB 23.840 session high. The rate has now moved through its 50-DMA (CZK23.770) and a close above that moving average would represent a bullish development, with next topside target provided by Feb 6 high of CZK24.023. Conversely, bears look for a resumption of losses towards Mar 1 low of CZK23.343.

  • CZGB yields are generally slightly firmer across the curve, while the PX index has edged higher following a steep three-day decline.
  • The annual decline in Czech retail sales slowed to 7.7% in January from December's revised 8.1%, with consensus expecting a 7.9% contraction. The local statistics office said that "stores selling food and non-food goods reported lower sales, while sales of motor fuels grew."

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