Favourable industrial output figures supported the Czech currency and it
firmed against the euro from the opening level of 31.410 to 31.307. However,
the optimism disappeared quickly and the koruna started to ease again. The
EUR/CZK closed at 31.440. The koruna fell also vs. the dollar as the euro
weakened vs. the dollar on the world markets.
The USD/CZK opened at 28.930
and closed at 29.120. Retail sales figure is released today. It could
temporarily back the koruna. Mostly technical factors should prevail in
forthcoming days. The EUR/CZK should move between 31.280 - 31.580 and the
USD/CZK should stay in the range of 29.100 - 29.500. The koruna opened at
31.430 against the euro and at 29.320 vs. the dollar.
open high low close today (17.2.)
EUR/CZK 31.410 31.465 31.307 31.440 31.430
USD/CZK 28.930 29.210 28.910 29.120 29.320
(Stepanka Kuzilkova, Investment Research, CSOB)