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M2 Money Supply Rises By 6.2% in May

CZECHIA
  • EURCZK continues to trade within its tight range between 24.67 and 24.77; key resistance to watch on the topside stands at 24.9050 (200DMA). On the downside, support to watch below 24.67 stands at 24.50.
  • This morning, economic data showed that Czech Final GDP print came in as expected at 0.9% QoQ in Q1 (and slightly higher than expected at 4.9% YoY vs. 4.8% exp.).
  • M2 money supply accelerated to 6.2% in May (up from 5.6% the previous month).
  • FinMin data showed that NRH owned 27.5% of Czech government CZK bonds at the end of May, up form 26.7% the previous month.
  • Today, PM Petr Fiala holds joint news conference with European Council President Michel.

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