The Czech currency surprised the market by another robust fall vs. the euro
as the EUR/CZK exchange rate reached the level of 32.930 from the initial
32.680 during yesterday's early morning session. Fears from political
instability remain the only support for such development. Macroeconomic data
had no impact on the EUR/CZK. The koruna corrected previous losses in the
afternoon and closed at 32.795. Against the dollar, the koruna firstly
tended to weaken and the USD/CZK touched the level of 29.790 in comparison
to 29.510 in the beginning of trading. It closed at 29.530.
data are released today. The EUR/CZK should move in the range of 32.750 -
32.950 as it opened at 32-790. Vis-a-vis the dollar, the koruna initiated at
29.530 and the USD/CZK should remain between 29.300 - 29.800.
open high low close today (9.9.)
EUR/CZK 32.680 32.930 32.680 32.795 32.790
USD/CZK 29.510 29.790 29.510 29.530 29.530
Martin Kocura, Investment Research, CSOB