The koruna returned above 30,00 again

The Czech koruna ones again returned to the EUR/CZK 30.00 zone. It opened at 29.885 and quickly drifted lower thus it fairly ahead of noon traded back around 30.00. The koruna was little changed in the afternoon. There was no statistic release behind the price action. Nevertheless, overall sentiment in the region is not very supportive. Moreover, there are still two-way interests on the market. Today, the balance of pay ment data due at 10:00 may move the market. However, the market should not be really surprised because the major part of the key current account – the trade balance - is already known. Thus only the income balance could change the atmosphere. Nevertheless, data should not differ significantly from the consensus in our view and therefore it should be neutral for the market. Taking into account yesterday drop of the koruna we see more space for the unit on the strong side of the 30.00 level.

ČSOB