CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Market Sees Another Three to Four Hikes This Year

CZECHIA
  • As opposed to Poland, which is trying to keep interest rates low in order to stimulate the economic recovery, the CNB has started a tightening cycle last month and is expected to raise its benchmark rate by another 25bps to 0.75% at its next meeting on August 5.
  • While policymakers have been hinting that CNB will hike another two times this year (including Aug 5), market participants are pricing three to four hikes (4 hikes implies a 25bps hike at each meeting) with FRA 6Mx9M trading 83bps above the Pribor 3M.
  • USDCZK ticks higher this morning after finding support at its 200DMA at 21.67; on the topside, first resistance stands at 21.92, followed by 22. On the downside, first support to watch below 21.67 (200DMA), followed by 21.49 (100DMA).
  • Czech 10Y yield has been retracing lower in recent days, breaking below its 50DMA at 1.70% yesterday; next support to watch on the downside stands at 1.60%. On the topside, ST resistance to watch stands at 1.78%, followed by 1.80%.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.