The koruna opened at 31,465 yesterday morning. Better than expected industrial production did not bring any impulse to the market. Foreign subjects had as in previous days the main influence , which sent the koruna down to 31,525. However, the koruna pared losses in the second half of the day and returned back near to opening values. Today's PPI is not supposed to affect the trading. We believe the koruna will tend to weaken gently today. We expect the koruna to fluctuate within 31,45-31,65. The koruna opened at 31,475 this morning.
ČSOB - Investment Research