The Czech currency dipped modestly against the euro from the initial level
of 31.580 to 31.650 during yesterday's morning trading. The EUR/CZK was
moving between 31.580 - 31.640 in the afternoon and closed at 31.630. The
koruna ignored worse-than-expected industrial production figure. The koruna
slipped also vs. the dollar, as it closed at 27.870 in comparison to 27.800
at the beginning of trading.
No important figures are released today. We
expect the trading to be calm and the EUR/CZK should remain in the range of
31.500 - 31.700. It opened at 31.655. Vis-a-vis the dollar, the koruna
started at 27.930 and the USD/CZK should not leave 27.700 - 28.100 brackets.
open high low close today (11.7.)
EUR/CZK 31.580 31.650 31.555 31.630 31.655
USD/CZK 27.800 27.960 27.780 27.870 27.930
Martin Kocura, Investment Research, CSOB