The EUR/CZK was moving in the range of 31.360 - 31.430 during morning
trading, the koruna started to firm against the euro in the afternoon and
closed at the level of 31.225. The koruna strengthened also vs. the the
dollar from 32.110 in the beginning to 31.850 in the end of trading as the
dollar fell against the euro on the world markets.
Czech market is currently
recovering from "flood-shock". The trading is expected to be stabilized in
forthcoming days. The koruna might keep searching the trend today. We
anticipate the EUR/CZK to move in the range of 31.150 - 31.350 and the
USD/CZK should be curbed between 31.700 - 32.100. Retail sales figure in
June was not released yesterday due to flooding. Unfortunately, Czech
Statistic Office won't be able to release any data in following weeks.
open high low close today (16.8.)
EUR/CZK 31.450 31.450 31.200 31.225 31.270
USD/CZK 32.110 32.300 31.800 31.850 31.890
Stepanka Kuzilkova, Investment Research, CSOB