The EUR/CZK moved from strong side of the 30.00 level to the 29.90 zone. The atmosphere on the market is slightly positive, but the koruna still keeps in its sideways channel. The Czech market outperformed other CE currencies yesterday, as many small customers buys korunas for euros. Yet, there was no domestic event nor foreign one behind price action.
Today, the koruna might attack lower limit of the current trading band at 29.85. However, we rate higher chance, that the limit will hold. The calendar is empty today, thus regional and global sentiment might be decisive.
(CSOB - Investment research)