The market was not surprised by inflation figure in September released
yesterday and the EUR/CZK was curbed between 30.300 - 30.390 all day long.
According to the comment of governor Z.Tůma, the current consumer prices
level is in line with CNB's forecast and the central bank's outlook on the
price trend and its principal factors remain unchanged against previous
months. The Czech currency was also not effected by unemployment and
construction output figures. Vs. the dollar, the koruna weakened from 30.850
to 31.000 as the dollar firmed against the euro on euro-dollar markets.
There no important statistics to be released today and the EUR/CZK should
not leave the band of 30.300 - 30.550. The USD/CZK should stay between
30.750 - 31.100. The EUR/CZK opened at 30.460 and the USD/CZK at 31.100
today. Consumer prices dropped by 0.5% on m/m basis and the annual rate rose
to 0.8%. Construction output dipped by 4.9% on y/y basis. Unemployment rate
hovered at 9.4%.
open high low close today (9.10.)
EUR/CZK 30.300 30.390 30.290 30.290 30.460
USD/CZK 30.850 31.045 30.820 30.960 31.100
Stepanka Kuzilkova, Investment Research, CSOB