The Czech koruna rebounded on Friday. As
expected, recent significant drop ran out of
steam and the unit slightly strengthened
ahead of the weekend. Technical barrier at
32.00 proved to be tough enough. The
koruna made all gains before noon, and it
slightly retreated over the afternoon. Despite
the correction the unit closed off the
Thursday almost two-month low.
Today, the calendar is empty thus technical
trading might prevail. The market should
wait for the fresh macroeconomic data due
next week. Hence some positive sentiment
to the koruna may continue.
ČSOB - Investment Research