Worse-than-expected foreign trade deficit for September was the main reason
for the fall yesterday, although the immediate reaction was very modest.
The koruna fell from 30,445 in the morning to 30,670 and closed at 30,640.
The influence of EUR/CZK development was not reflected at the USD/CZK as the
euro advanced versus the dollar. The USD/CZK remained in the range 31.250 -
31.370 all day long. Today we anticipate the market to get calm and
stabilize in the range of 30.500 - 30.700 when it used to move in last week.
The EUR/CZK opened at 30.640 and the USD/CZK at 31.350 in the morning.
open max min cls open 23/10
EUR/CZK 30.445 30.670 30.430 30.640 30.640
USD/CZK 31.315 31.370 31.250 31.350 31.350
Stepanka Kuzilkova, Investment Research, CSOB