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Manufacturing PMI Falls Slightly to 61 in August

CZECHIA
  • Czech public prosecutor delays PM Andrej Babis' EU fraud case until after general election (Oct 8/9).
  • Yesterday, economic data showed that Czech economy expanded by 8.2% in Q2, up from the 7.8% July (first estimate).
  • This morning, manufacturing PMI fell slightly in August to 61 (vs. 60.5), down from 62 the previous month, but still stands far above the 50-line threshold that separates growth from contraction.
  • USDCZK ticks higher this morning after finding a local low at 21.48 earlier; the pair is currently testing its 200DMA (21.52), a break below that level would open the door for a move down to 21.39 (100DMA).
  • Czech 10Y yield continues to remain flat, currently trading slightly below the 1.80% level. Key resistance to watch on the topside stands at 2%; on the downside, first support stands at 1.75% (100DMA), followed by 1.71% (50DMA).
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