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Koruna Ticks Higher, EUR/CZK Edges Away From Cycle Highs

CZK

EUR/CZK has edged lower, moving away from post-CNB cycle highs. The pair last deals -044 at 25.204, with bears looking for a continued sell-off past Jan 2 high of 24.867. On the flip side, the next bullish target is provided by 25.486, which capped gains on May 11.

  • CZGBs are softer across the curve this morning. FRAs are under mild pressure, after the CNB's dovish monetary policy decision last week.
  • Transport Minister Martin Kupka said that inflation will likely be between +3%-4% Y/Y in January, which will boost the economy. Official data will be published on Thursday.
  • Czechia's export prices fell 2.4% Y/Y in December and import prices were down 2.1% Y/Y, according to data from the CZSO.
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EUR/CZK has edged lower, moving away from post-CNB cycle highs. The pair last deals -044 at 25.204, with bears looking for a continued sell-off past Jan 2 high of 24.867. On the flip side, the next bullish target is provided by 25.486, which capped gains on May 11.

  • CZGBs are softer across the curve this morning. FRAs are under mild pressure, after the CNB's dovish monetary policy decision last week.
  • Transport Minister Martin Kupka said that inflation will likely be between +3%-4% Y/Y in January, which will boost the economy. Official data will be published on Thursday.
  • Czechia's export prices fell 2.4% Y/Y in December and import prices were down 2.1% Y/Y, according to data from the CZSO.