The Czech currency recorded another gains against the euro. The EUR/CZK
opened at the level of 32.225 and the koruna firmed to 32.115 during morning
session. However, the koruna modestly corrected previous gains in the
afternoon and closed at 32.170. The EUR/CZK profited from optimism ruling in
Central European FX markets.
Vis-a-vis the dollar, the koruna remained in
the narrow band of 28.280 - 28.430 all day long and followed eurodollar
markets. The USD/CZK closed at 28.330 compared to the initial level of
28.350. Construction output figure is released today. We don't expect a
significant impact on the koruna. Investors will closely watch Friday's
data, mostly inflation and industrial output. The EUR/CZK should move in the
range of 32.100 - 32.300. It opened at 32.210. Against the dollar, the
koruna initiated at 28.210 and should not leave 28.100 - 28.500 brackets
today.
open high low close today (6.8.)
EUR/CZK 32.225 32.225 32.115 32.170 32.210
USD/CZK 28.350 28.430 28.280 28.330 28.210
Martin Kocura, Investment Research, CSOB