There was no clear trend during the trading on the EUR/CZK parity. The Czech
currency was curbed in a narrow band of 31.630 - 31.690 all day long and
closed at 31.665. Vis-a-vis the dollar, the koruna strengthened in reaction
to the weak dollar vs. the euro on the world markets. The USD/CZK opened at
the level of 29.120, touched the 28.810 level during the day and closed at
28.850.
Foreign trade deficit figure is released today. We can't see much
room for the koruna's strengthening, the Czech currency could be influenced
by the eurodollar markets development. The EUR/CZK should move in the range
of 31.550 - 31.750 today and started at 31.660. Against the dollar the
koruna should not leave the following band of 28.600 - 29.000. The USD/CZK
opened at 28.920.
Foreign trade deficit reached CZK 9.2 bln. in March in comparison to revised
CZK 2.9 bln. in February. The result was worse than expectation.
open high low close today (23.4.)
EUR/CZK 31.680 31.690 31.630 31.665 31.660
USD/CZK 29.120 29.120 28.810 28.850 28.920
Martin kocura, Investment Research, CSOB