The Czech koruna failed to break the level
of EUR/CZK 31.38. Thus the unit retreated
back to the EUR/CZK 31.45 zone on
Thursday. Nevertheless, the losses over the
last two days were minimal, as the koruna
was bounced in the tight range of EUR/CZK
31.38- 31.50. The market completely
ignored the September industrial output data
released on Thursday morning. The output slightly fell short of expectation, as it posted
6.6 % annual rise. However, it did not really
alter the picture of robust economic growth,
because the output was 8.8 % higher,
working days adjusted, than in the same
month last year.
Today PPI figure will not likely move the
market. Higher rise in producer prices was
affected by start of winter-season energy
prices. Thus we expect koruna to continue
hover in the tight range of EURCZK 31.40 –
31.55.
ČSOB - denní finanční zpravodaj