The Czech currency was trying to erase its Thursday's losses against the
euro during the morning trading on Friday and firmed from the initial level
of 32.600 to 32.570. However, the trend reversed later and the EUR/CZK
reached 32.700 in the afternoon, the 20-month low. Against the dollar , the
koruna strengthened due to a sharp fall of the American currency vs. the
euro on the world markets. The USD/CZK opened at 29.750 and closed at
29.620.
A batch of macroeconomic data is released today. The koruna should
be positively motivated. However, the impact could be only temporary. The
EUR/CZK exchange rate should move between 32.600 - 32.800, while it opened
at 32.680. Vis-a-vis the dollar, the koruna initiated at 29.510 and should
not leave 29-200 - 29.700 brackets.
open high low close today (8.9.)
EUR/CZK 32.600 32.700 32.570 32.660 32.680
USD/CZK 29.750 29.880 29.610 29.620 29.510
Martin Kocura, Investment Research, CSOB