On Friday the Czech currency began at 31.980 against the euro and at 27.060
against the dollar. The koruna with other Central European currencies
remained under pressure even when no negative events occurred on domestic
scene. The rate EUR/CZK broke the 32 levels, touched the 32.220 by
mid-session and closed at 32.140 in the afternoon. This morning it opened at
32.150 and should stay between 31.90 and 32.40. Against the dollar the
koruna weakened to 27.280 on Friday. After mid-session it changed the trend
and closed at 27.200.
Today the rate USD/CZK opened at 27.380 and should
move between 27.10 and 27.70. We do not expect any important macro data to
be released this week. CNB has its regular meeting on Thursday but no
interest rate change is expected.
CSOB, Investment Research