Free Trial

Koruna Weakens Alongside CE3 Peers

CZK

EUR/CZK has ticked higher and last changes hands +0.041 at 24.306. Topside technical focus falls on Oct 26, 2023/Jul 7, 2022 highs of 24.747/24.797. Conversely, bears see the 38.2% retracement of the YtD upleg at 24.159 as their initial target.

  • Czech parliament yesterday approved the 2024 state budget envisaging a reduction of annual fiscal deficit to CZK252bn from this year's CZK295bn despite earlier protests against the government's austerity measures.
  • Local headline flow has been relatively light today, with the koruna losing ground alongside its CE3 peers. That being said, it fares better than both PLN (PLN/CZK -0.05%) and HUF (CZK/HUF +0.29%).

To read the full story

Close

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.