On Friday, the Central European currencies fell against the common currency as better than expected US private payrolls for December provided only a limited support. The zloty underperformed its peers and easily breached above 55 days moving average and settled at resistance at EUR/PLN 4.12, while the Czech koruna hit the lowest level since the end of November. Meanwhile, Hungarian government bond yields surged; speculations that Gyorgy Maltocsy, currently the Economy Minister, may become the new governor of the central bank (Andras
Simor’s mandate expires on 3rd March) might have weighed on Hungarian assets. Regarding today’s fresh figures on Czech industrial production in November, those fell short of market expectations; after working-day adjustment, the output fell by 6.2% Y/Y and 0.8% M/M. After the release, the koruna surged and breached above resistance at EUR/CZK 25.38 and at the time of writing this Daily it was seen at 25.47.