It opened at EUR/CZK 29.55 and moved south to close at 29.52. A rebounding Polish zloty was the most important incentive, as no domestic event was relevant for the FX market.
Today, the August industrial output may grab some attention. The increase of 8.6 % y/y is in line with expectation and confirmed recovery of the sector in summer. That’s slightly positive for the koruna. Nevertheless, all eyes might be at Polish zloty again. Thus there is small room for the koruna to strengthen further. More important might be tomorrow’s data on the current account, which will show how outflow of dividends developed in August.
(CSOB - Investment research)