The unit opened a touch weaker in the
EUR/CZK 30.20 zone and was rather quiet
in the morning. The koruna lost ground in
the afternoon to close at 30.33. Falling zloty
and the weaker dollar against the euro were
the most important stimuli for the koruna.
Today the calendar is really busy. From the
FX market point of view the May current
account data might be the most important.
Tine surplus of CZK 1.8 bn is positive for
the market. Inflation, industry output and
Minutes might be less important. Given
yesterday’s significant slide of koruna, there
is a room for some recovery. Nevertheless,
CE currencies may fall during summer, as
investors might be nervous ahead of
parliamentary election in Poland.
(CSOB - Investment research)