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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
- As its CEE FX peers, CZK has been weakening in recent weeks despite the aggressive CNB hikes.
- We saw earlier this month that CNB surprised the market by hiking its policy rate by 125bps to 2.75% (vs. 75bps expected).
- USDCZK is currently trading above the 22 level; next resistance to watch on the topside stands at 22.24, followed by 22.35 (this year's high).
- On the downside, first support to watch stands at 21.85 (50DMA), followed by 21.80 (LT upward trading support line).
- Currency weakness will continue to support inflation expectations, and therefore put Czech policymakers in a difficult position as the economic activity has been decelerating significantly in the past few months.
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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