CZK: Koruna Extends Gains Ahead Of CNB Week
Sep-19 08:32
EUR/CZK deals -0.021 at 24.286, having refreshed cyclical lows earlier today. The low print of Nov 29,2023 provides the initial bearish target at 24.203, while bulls look for a rebound towards the 50-DMA at 24.495.
- The CNB is in blackout period ahead of next week's monetary policy meeting, which is widely expected to result in an on-hold decision amid concerns about wage growth, services inflation, and fiscal uncertainty.
- Local news coverage continues to revolve around the upcoming parliamentary election, for the most part.
- CZGB yields have crept higher, in line with a wider tendency, in the absence of notable local catalysts.
- The PX Index is marginally firmer, stays near familiar levels.
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BTP: Block trade
Aug-20 08:23
BTP Block trade, suggest unconfirmed seller:
- IKU5 ~1.29k at 120.40.
FOREX: FX OPTION EXPIRY
Aug-20 08:15
Of note:
EURUSD 1.14bn at 1.1675.
USDJPY ~1bn at 148.00.
EURUSD 1.58bn at 1.1700 (thu).
USDJPY 1.42bn at 147.90 (fri).
EURUSD 1.06bn at 1.1650 (mon).
- EURUSD; 1.1600 (853mln), 1.1650 (594mln), 1.1675 (1.14bn), 1.1700 (250mln).
- GBPUSD: 1.3500 (300mln).
- USDJPY: 148.00 (991mln).
- AUDNZD: 1.1000 (741mln).
ESM ISSUANCE: RFP Issued
Aug-20 08:07
“Today ESM, the European Stability Mechanism has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction, subject to market conditions.”
- This likely means a transaction on Monday / Tuesday next week.
- We had flagged an ESM/EFSF transaction as likely in late August (although we thought EFSF was more likely).
