CNB stays on hold and surprises part of the market

Headlines Currencies: The zloty appreciates less dovish tone of NBP and better retail sales Fixed Income: CNB stays on hold and surprises part of the market Czech Republic The Czech koruna gained strongly as the CNB surprised part of the market with its decision to leave the official rates unchanged and mainly with neutral to slightly hawkish comments yesterday. Interestingly, the koruna initially weakened after CNB’s decision, but later on when first comments from the press conference hit screens the currency started to firm. The Czech currency was also supported by a weaker USD, which has usually a negative impact on the EUR/CZK pair. So, as a result the EUR/CZK pair has managed to open below the 26.0 level this morning and we expect that the pair will probably test the key 25.85 support level as the market might continue... [read full story]                    

powered by
Add Comment
There are also 3 related articles
View all news articles about*:
*Newstin tag cloud displays all featured persons, associated organizations, related topics, regions and companies