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CZK: Risk-Off Mood Keeps Koruna On Back Foot

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK changes hands +0.081 at 25.253, gaining altitude amid wider risk-off reaction to fresh tariffs/tariff threats rolled out by the Trump administration. Bulls now look for a break above Jan 17 high of 25.317. On the flip side, the 25.0 mark remains a key target for bears.

  • Most economists expect the CNB to resume rate cuts this Thursday and bring the two-week repo rate to 3.75% after pausing in December. The decision will be announced hours after the release of Czechia's first flash CPI reading, which may affect the Bank Board's discussion. January inflation print is particularly influential as it captures the annual repricing of goods and services, setting a point of reference for the remainder of the year.
  • The Finance Ministry will release January budget data at 13:00GMT/14:00CET amid the government's continued efforts to curb fiscal deficits.
  • S&P Global Manufacturing PMI improved to 46.6 in January from 44.8 prior, topping the consensus forecast of 45.7.
  • CZGB yields have erased their initial dips. The PX Index has shed 0.8% but the 1,850 figure holds firm.
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EUR/CZK changes hands +0.081 at 25.253, gaining altitude amid wider risk-off reaction to fresh tariffs/tariff threats rolled out by the Trump administration. Bulls now look for a break above Jan 17 high of 25.317. On the flip side, the 25.0 mark remains a key target for bears.

  • Most economists expect the CNB to resume rate cuts this Thursday and bring the two-week repo rate to 3.75% after pausing in December. The decision will be announced hours after the release of Czechia's first flash CPI reading, which may affect the Bank Board's discussion. January inflation print is particularly influential as it captures the annual repricing of goods and services, setting a point of reference for the remainder of the year.
  • The Finance Ministry will release January budget data at 13:00GMT/14:00CET amid the government's continued efforts to curb fiscal deficits.
  • S&P Global Manufacturing PMI improved to 46.6 in January from 44.8 prior, topping the consensus forecast of 45.7.
  • CZGB yields have erased their initial dips. The PX Index has shed 0.8% but the 1,850 figure holds firm.