The koruna broke the 33.000 level against the euro on Friday, as the trade deficit figure was released. The EUR/CZK returned back below 33.000 later as the influence of the figure disappeared. We expect mostly technical trading today. No important macroeconomic indicators are released this week and no change in interest rates is expected after Thursday's CNB Bank Board meeting. Some negative sentiment against the koruna is still present on the market. The Czech currency can break the level of 33.000 vs. The euro anytime. The EUR/CZK should move in the range of 32.750 - 32.950 as it opened at 32.905. Vis-a-vis the dollar, the koruna initiated at 26.235 and should not leave 25.950 - 26.450.
open high low close today (26.1.)
EUR/CZK 32.900 33.035 32.900 32.930 32.905
USD/CZK 25.800 26.025 25.800 26.025 26.235
CSOB , investment research