Yesterday's robust strengthening of the dollar against the euro influenced
also the EUR/CZK exchange rate. The koruna subsequently fell vs. the
American currency from the initial level of 27.620 to 27.870 at the end of
trading. Vis-a-vis the euro, the koruna remained calm all day long in the
range of 31.570 - 31.680. A batch of macroeconomic indicators is released
today, including inflation and unemployment figure.
We don't expect a
significant impact on the koruna's exchange rate. The EUR/CZK should be
curbed between 31.500 - 31.700 today. It opened at 31.600. Against the
dollar the koruna initiated at 27.870 and should not leave 27.700 - 28.200
brackets.
open high low close today (8.7.)
EUR/CZK 31.612 31.675 31.570 31.620 31.600
USD/CZK 27.620 27.890 27.620 27.870 27.870
Martin Kocura, Investment Research, CSOB