Convert CZK to EUR
The CZK/EUR forex pair experiences the maximum volatility during the European session as this is when most market moving events that affect both currencies release. The best time to trade this currency pair would be between 07:00 AM and 04:00 PM GMT.
The CZK/EUR currency pair experiences considerable volatility on the release of key economic data from the Czech Republic and from the Eurozone, such as GDP, inflation, unemployment rate, retail sales, PPI, business confidence, PMI readings of manufacturing and services sectors and trade balance.
Both the CZK and the EUR see significant fluctuations in value upon the announcement of changes to the monetary policy and interest rates by the Czech National Bank and the European Central Bank respectively. For instance, if the ECB announces a rate hike or tightens its monetary policy, the Euro strengthens, turning this pair bearish, and vice versa.