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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.
CZECHIA
- EURCZK continues to retrace lower this morning after breaking below its 24.50 support yesterday; next level to watch on the downside stands at 24.2960. On the topside, resistance to watch now stands at 24.50.
- Support for the CZK has been strong in the past few days despite Czech Republic currently offering the second lowest 10Y real yield among the EM world after Turkey (-12.8%, see chart).
- This morning, economic data showed that CPI inflation accelerated to 17.2% YoY in June (vs. 17.1% exp.), up from 16% the previous year.
- Even if the new board seems less keen on hiking rates aggressively to counter the inflationary pressures, new Governor Michl recently mentioned that bringing down inflation was the board ‘priority’.
Source: Bloomberg/MNI
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.
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