Yesterday brought a modest recovery in the interest in the Czech koruna. At first, the koruna weakened down to 33.20 for one euro, but later, it tried to break the boundary of 33.025. Today's data on the trade balance will influence the koruna only if they are surprising. The expected deficit amounting to CZK 2 bil. will have only a slightly positive effect on the market. However, a negative surprise can push the koruna as far as beyond the boundary of 33.20 for the euro. Breaking this boundary could start a series of sale orders; therefore we consider the space for weakening of the koruna to be rather limited.
ČSOB - Investment Research