The Czech koruna opened stronger
yesterday, the unit even touched 31.72 in
the afternoon. However, the koruna closed
at 31.80 zone, little changed compare to
opening value. The negative sentiment is
almost overdone, investors do not fear of
any escalation of the political crisis.
Moreover rising other Central European
currencies helped the koruna. Today, Mr.
Spidla will deliver his delayed resignation and President Klaus will start discussions
with party leaders on a new government.
Government budget balance for June is due
in the afternoon but it hardly attracts a lot of
interest of traders and investors.
Approaching long weekend in Czechia might
limit market activity. Thus we expect the
koruna to be calm and flat again.
ČSOB - Investiční výzkum