CZK: Koruna Outperforms CE3 Peers, Final Rounds Of Pre-Blackout CNB Speak Eyed

EUR/CZK holds a narrow range, last deals -0.008 at 25.026. From a technical perspective, the key bearish target is provided by 24.896, which limited losses on Feb 26. Bulls look for a sustained break above the 50-DMA, which kicks in at 25.089.

• The CNB's blackout period will start this afternoon ahead of next week's monetary policy decision. Most sell-side desks expect a pause at this meeting, despite there being room for more cuts further down the road.
• CNB's Jakub Seidler told Bloomberg that he would support a pause in interest-rate cuts next week and said that market pricing pointing to 50bp of cuts over the next 12 months is "relatively fair".
• According to the slides from her presentation published on the CNB's website, Deputy Governor Eva Zamrazilova said that "room for further CNB rate cuts is emerging, but prudence is still required."
• CZGB yields have faltered across the curve, with 3s outperforming. The PX Index has edged higher, refreshing record highs.