The trading was clam on Friday and had technical character. The Czech
currency remained below the level of 30.500 during the morning session in
the range of 30.400 - 30.500 against the euro during morning session and
strengthened to 30.380 in the afternoon. The koruna softened vs. the dollar
from the opening level of 30.920 to 30.945 due to firming of the dollar
against the euro on world markets.
The state budget data released today
should not have significant impact on the EUR/CZK, the market is waiting for
current account for Q2 2002 figure on Wednesday. We expect the EUR/CZK to
move in the range of 30.300 - 30.500 today and the USD/CZK should be curbed
between 30.750 -31.100.
open high low close today (2.9.)
CZK/EUR 30.470 30.485 30.360 30.380 30.375
CZK/USD 30.920 30.970 30.860 30.945 30.950
Stepanka Kuzilkova, Investment Research, CSOB