The koruna weakened against the euro from 30.470 to 30.530 during morning
trading. However, the trend disappeared soon and the koruna returned back to
the level of 30.400 and closed at 30.430. The USD/CZK was moving in the
range of 32.200 - 32.390 yesterday and closed at 32.250. The koruna didn't
mind the election results yesterday and also quiet trading in on euro-dollar
markets had no impact.
Retail sales in April has been released today. We
don't expect any influence on the koruna. Negotiations about the new
government between leading social democrats and Koalice party starts later
today. We expect the EUR/CZK to move in the range of 30.350 - 30.550 and the
USD/CZK between 32.100 - 32.400. The EUR/CZK opened at 30.460 and the
USD/CZK at 32.210 today.
open high low close today (18.6.)
EUR/CZK 30.470 30.535 30.420 30.420 30.460
USD/CZK 32.230 32.390 32.200 32.250 32.210
Stepanka Kuzilkova, Investment Research, CSOB