The Czech currency opened the Thursday's trading at the 33.16 against the euro. By midday the trading was quiet as in previous days with a continuous tendency to weakening. Neither industrial production nor Czech National Bank declared inflation target (3.0 pct with +/- 1 pct) presented any influence. Later the Czech currency changed its trend through technical trading and the koruna came near to the 33 EUR/CZK level closing at 33,06. The koruna showed the same trend also against the dollar and closed below the 27 level. We see today's session as a quiet pre-weekend one. Production prices and current account deficit released today should have negligible impact only. The rate EUR/CZK opened at 33.085 this morning and shoud move in a range of 32.90 and 33.40. Against the dollar the koruna opened at 26.945 and should stay between 26.65 and 27.25.
CSOB - Investment Research