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