The koruna was calm against the euro and was moving around the level of
30.400 during morning session. However, the koruna, strengthened in the
afternoon, touched 30.300 and closed at the same level. The release of CNB's
Bank Board meeting minutes left the EUR/CZK unchanged. The koruna was losing
against the dollar yesterday as the dollar strengthened against the euro on
world markets. The koruna dipped from the morning level of 31.090 to 31.450
and the USD/CZK closed at 31.410. Construction output figure was released
today. We don't expect any significant impact on the koruna. The trading
might be calm today again. If the koruna keeps firming, the CNB may enter
the market. The USD/CZK will watch euro-dollar markets. We anticipate the
EUR/CZK to move in the range of 30.250 - 30.550 and the USD/CZK should stay
between 31.050 - 31.550. The central bank also confirmed in its minutes
yesterday, that it had intervened covertly against the strong koruna in
July.
open high low close today (7.8.)
EUR/CZK 30.390 30.435 30.290 30.300 30.270
USD/CZK 31.090 31.450 31.090 31.410 31.265