The crown is slightly lost. Today, the published Czech PMI remained below the fifty-point mark, but it showed that it will improve in the coming months

Today, the published Czech PMI remained above the fifty-point mark, but it showed that it has improved in the last month. For the first time since the list, the influence in running rose from the Norwegians’ 44.3 points to 46.2 points. This was the best result since August 2022. We devoted more attention to the topic here: https://bit.ly/49qrvt7. The minutes from the last session of the central bank were also made public. She dreamed of 50 bb rates for years. Tom Holub and Jan Frait voted for the relaxation of the monetary conditions by 75 bb. The Banking Council agreed that the risks are likely to be concentrated on the pro-inflationary side, and that it is still necessary to proceed with caution. It also follows from the report that the board of the Lenovo bank was not particularly concerned about the weak exchange rate of the koruna, which was not expected by the central bank’s forecast. At the end of the current fiscal year, the state budget was in the deficit of CZK 105 billion. In the interim period, the deficit was CZK 61.2 billion smaller, which is mainly related to tax revenues. We devoted ourselves to the darkness here: https://bit.ly/3vDixLy.

The exchange rate of the koruna weakened slightly during the day. It reached the level of 25.36 CZK/EUR, where the trend reversed and the koruna started to erase its losses. Other regional currencies were just generally looking for a direction to go. In the day-to-day comparison, they ended largely unchanged (Marist forint at 394.6 HUF/EUR, Polish zloty at 4.29 PLN/EUR). The euro/dollar exchange rate ranged between 1.073-1.077 USD/EUR. American data (JOLTS and factory orders) turned out a bit better, not what the market expected.

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