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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
- *CZECH PRESIDENT NAMES ALES MICHL AS NEW CENTRAL BANK GOVERNOR
- *ZEMAN SAYS NEW CZECH CENTRAL BANK HEAD IS FACING `TOUGH TASK'
- *MICHL EXPECTS TO PROPOSE CZECH RATE STABILITY FOR `SOME TIME' (bbg)
- Michl will take over from current governor Rusnok when his term ends at the end of June.
- CZK has been weakening in the past week as Michl has been opposed to rate hikes in the latest tightening cycle (one of the CNB doves with Dedek), mentioning that inflation is currently driven by external factors outside of the monetary policy realm.
- EURCZK is trending higher following the announcement, currently trading slightly above the 200DMA (25.0310).
- Next resistance to watch on the topside stands at 25.23, which corresponds to the 38.2% Fibo retracement of the 24.0940 - 25.9360 range.
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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