The EUR/CZK has stabilized on Friday after Thursday's surprising interest
rates cut. The koruna stayed between 32.270 - 32.355 all day long. The
EUR/CZK closed at 32.350 in comparison to the initial level of 32.3350.
Vis-a-vis the dollar, the koruna modestly firmed. The USD/CZK opened at
28.800 and fell to 28.970 in the beginning of trading. However, the koruna
erased previous losses later due to eurodollar markets development and the
USD/CZK closed at 28.730. We don't expect any important events today. The
EUR/CZK should be curbed between 32.200 - 32.400, as it opened at 32.350.
Against the dollar, the koruna initiated at 28.710 and should not leave
28.500 - 29.000 brackets.
open high low close today (4.8.)
EUR/CZK 32.330 32.355 32.270 32.350 32.350
US/CZK 28.800 28.970 28.700 28.730 28.710
CSOB, Investment Research