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Koruna Weakens, CZGB Yields Decline


EUR/CZK has inched higher and last operates +0.046 at CZK23.682, moving away from new multi-year lows printed yesterday at CZK23.615. Recovery past the 50-DMA at CZK23.990 would inspire bulls to seek a firmer rebound. Bears need a fall under the recent cyclical low before setting their sights on Aug 1, 2008 low of CZK23.445.

  • CZGB yield curve has shifted lower, with local-currency bonds outperforming CE3 peers. The PX index sits marginally below neutral levels, in the vicinity of recent cyclical highs.
  • Prime Minister Fiala and Finance Minister Stanjura will discuss the budget outlook this afternoon.

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