The crown is supposed to fall, but it holds strong. Why is that so?
Last year, the current account of the Czech balance of payments fell into a sovereign, historically record deficit of over 415 billion crowns. A deep current account deficit is generally negative news for international currency traders. It creates pressure to weaken the country’s currency. However, the crown does not face such problems now. On the […]
Czechs are getting poorer and buying less
Last year, Czechs drastically reduced their shopping. Full shopping malls and restaurants before Christmas were apparently just an illusion, the fastest working poor. The consumption of Czech households in the third quarter of last year, i.e. from July to September, in fact, it has historically failed. In real terms – i.e. after taking inflation into […]
Lukáš Kovanda: Czechs have one foot in the recession
Macroeconomic data published today confirm that the Czechia has one foot in recession. Unemployment is growing less than expected so far, but this may change very quickly this year. The specification of the growth of the Czech economy in the third quarter of last year published today is an unpleasant surprise. Refinement by two-tenths of […]
Hungarians are low on gas. Orbán capitulates to the law of the market
China is experiencing the biggest popular storms since 1989, which is why oil is sharply cheaper. This may please Czech motorists, but not Hungarian motorists – for them, fuel will become more expensive due to yesterday’s reduction of the ceilings, economist Lukáš Kovanda comments on the events on the markets on the threshold of the […]
Kovanda: The Big Tech stock debacle scattered the ESG phenomenon
Shares of tech giants have been huge losers this year. A loser that lasts. Next year also looks like a really hot one. The key reason will be the continuation of the US central bank’s hawkish monetary policy. In short, the Fed does not intend to loosen its monetary policy screws just like that. Indeed, […]
Fuels are getting cheaper. Gas stations blow inflated margins
Pumpers are once again “magical” with margins. Diesel prices are 10 crowns per liter higher than on the eve of the invasion, even though oil is now traded at a comparable price in crowns as it was then. The price of fuel in the Czech Republic fell significantly in the past week. Gasoline was sold […]
Kovanda: Food around the world is already getting cheaper. Not yet to the Czechs
Food around the world is already becoming cheaper, but Czech sellers often cut their prices even further instead. Czechs should be careful when shopping in the store and not buy food at any price, says economist Lukáš Kovanda. Global food prices appear to be falling this month for the first time in more than two […]
Lukáš Kovanda: The new Mao is intensifying the oppression of those billionaires
Mainland Chinese stocks traded on the Hong Kong stock exchange fell 7.3 percent on Monday. This is the deepest fall of the relevant indicator – Hang Seng China Enterprise Index – since the global financial crisis of 2008. It also sharply weakened the main indicator of Hong Kong stock titles – Hang Seng – which […]
Kovanda: Don’t trust developers, they will eventually make even new buildings cheaper
As shown by the latest data from the residential market of the companies Trigema, Central Group and Skanska, the expected drop in the prices of new apartments in Prague did not occur and, according to the developers, most likely will not occur. But the developers will certainly not announce to the world that they expect […]
Lukáš Kovanda: Historic moment, almost no Russian gas flows into the EU
Ukraine accuses Canada of returning turbine: “You’re stabbing us in the back”. From today, the EU will be practically without Russian gas, but with the turbine, according to Berlin, Russia is losing an excuse for not putting Nord Stream 1 into operation. Today marks a historic moment for the EU energy market. Almost no Russian […]