The Czech currency was locked in a narrow range of 31.560 - 31.630 against
the euro all day long, ignoring current account data. The EUR/CZK closed at
31.580. Vis-a-vis the dollar, the koruna weakened during the day as the
dollar rose vs. the euro on the world markets. The USD/CZK opened at 29.700,
touched the level of 29.920 during the morning and returned back to 29.700
at the end on the day.
Retail sales figure due today should not have a
significant impact on the EUR/CZK, investors will wait for GDP release
tomorrow. Geopolitical development is still in the front line of the
We expect the EUR/CZK to be curbed between 31.480 -
31.680 brackets. It opened at 31.550. The USD/CZK should move in the range
of 29.500 - 30.000. It opened at 29.710 today.
open high low close today (19.3.)
EUR/CZK 31.560 31.630 31.560 31.580 31.550
USD/CZK 29.700 29.920 29.640 29.700 29.710
Stepanka Kuzilkova, Investment Research, CSOB