Tuesday's trading with the Czech koruna was calm again.

Neither the expected payment for gas utility Transgas sold to Germany's RWE nor the release of better-than-expected industrial output data had no impact on the koruna's exchange rate. The technical trading still prevailed. The koruna strengthened during yesterday's session by 4.5 hallers from 30.560 at morning to 30.515 at late afternoon. For today and also for the rest of the week we expect that the technical trading will continue to prevail and the EUR/CZK will remain in the range 30.350 - 30.650 and USD/CZK in range 33.550 - 34.200.

open	max	min	cls	open 15/5
EUR/CZK	30.560	30.580	30.470	30.515	30.500
USD/CZK	33.670	33.810	33.590	33.750	33.810

Stepanka Kuzilkova CSOB Investment Research