5 Jan 2015
CZK outperforms its peers – KBC
FXStreet (Barcelona) - The KBC Bank Research Team shares that CZK outperformed its peers with Hungarian forint and Polish zloty falling against the euro, despite the Czech PMI coming out below market expectations.
Key Quotes
“Both the Hungarian forint and the Polish zloty fell against the euro while the Czech koruna edged slightly higher on Friday.”
“The koruna outperformed its peers despite the fact that the Czech PMI for December came out well below the market consensus. Still, although the Czech index hit the lowest level since July 2013, it was higher than its historical average, and, at 53.5 points, well above aggregate PMI in the euro zone countries (50.6).”
“The Polish PMI also lagged behind market consensus, but at 52.8 was also well above its historical average. Moreover, positive news is that conditions in labour market continued to improve both in Poland and in the Czech Republic.”
Key Quotes
“Both the Hungarian forint and the Polish zloty fell against the euro while the Czech koruna edged slightly higher on Friday.”
“The koruna outperformed its peers despite the fact that the Czech PMI for December came out well below the market consensus. Still, although the Czech index hit the lowest level since July 2013, it was higher than its historical average, and, at 53.5 points, well above aggregate PMI in the euro zone countries (50.6).”
“The Polish PMI also lagged behind market consensus, but at 52.8 was also well above its historical average. Moreover, positive news is that conditions in labour market continued to improve both in Poland and in the Czech Republic.”