Hledat v komentářích
Investiční doporučení
Výsledky společností - ČR
Výsledky společností - Svět
IPO, M&A
Týdenní přehledy
 

Detail - články

Despite shaky start the koruna went stronger yesterday

6.1.2005 9:46
Autor: 

Despite shaky start the koruna went stronger yesterday. The unit opened at EUR/CZK 30.39, where it fell on Tuesday. However, surprisingly November trade surplus made any other drop of the currency difficult. Foreign trade posted a surplus CZK 5.2 bn in November, while the market expected CZK 6 bn. This is the biggest monthly surplus in a decade. That’s now obvious that Czech trade heads for only CZK 30 bn deficit for the whole year. Czech exporters likely gains from strong Christmas demand in western Europe, because exports of cars, TV sets and electronics led the trade in November. The result is strongly positive for the currency.

Nevertheless, simultaneous rebound of the US dollar impeded any significant koruna strengthening on the figure, because many investors were buying dollars for korunas at the moment. Thus the koruna was able to gain only about ten hellers against the common currency to close at EUR/CZK 30.36.

Today no event is scheduled in the calendar, thus the market may not get any new trading idea. It seems to difficult for the koruna to break Monday’s high of EUR/CZK 30.30 now, as the US dollar stays relatively strong. However all other factors are positive for the koruna: strong foreign trade performance, privatization of Cesky Telecom and betterthan- planed development of public finances Moreover, expected issuance of government bonds in euro (EUR 1.5 bn) is more likely after deputy finance minister Janota said yesterday that the government would pick Eurobond lead managers by March. However, he added that the government has not decided issue yet, but it sounded pretty inconvincibly for the markets. Thus we put the risk for the stronger koruna, especially if the dollar return to falling trajectory.

ČSOB - Investment Research


Váš názor
Na tomto místě můžete zahájit diskusi. Zatím nebyl zadán žádný názor. Do diskuse mohou přispívat pouze přihlášení uživatelé (Přihlásit). Pokud nemáte účet, na který byste se mohli přihlásit, registrujte se zde.
Aktuální komentáře

Související komentáře
Nejčtenější zprávy dne
Nejčtenější zprávy týdne
Nejdiskutovanější zprávy týdne
Denní kalendář hlavních událostí
ČasUdálost
10:30UK - Maloobchodní tržby bez PHM, m/m
14:30USA - Nové žádosti o dávky v nezam.
16:00USA - Prodeje starších domů