The koruna didn't continue in Thursday's strengthening. It softened against
the euro to 30.930 from 30.730 during Friday's morning session. However, the
Czech currency slightly erased previous losses later and closed at 30.880.
On the other hand, the koruna firmed vs. the dollar to 30.960 from 31.030 in
the beginning of trading.
The USD/CZK followed the development on eurodollar
markets, as the dollar fell against the euro. There are no important figures
to be released today, the market will be awaiting inflation and unemployment
figures due in the second part of the week. The EUR/CZK should move in the
range of 30.700 - 31.000 and the USD/CZK should be curbed between 30.750 -
31.150. The EUR/CZK opened at 30.770 and the USD/CZK at 30.900 today. Budget
deficit rose to CZK 32.3 bn in October, while it amounted CZK 21.4 bn at the
end of September.
open high low close today (4.11.)
EUR/CZK 30.730 30.940 30.700 30.850 30.770
USD/CZK 31.030 31.200 30.890 30.950 30.900
Stepanka Kuzilkova, Investment Research, CSOB