Trading in the Czech koruna was very calm again yesterday and the currency
moved in a narrow band of 30.260-30.360 and closed at 30.320, 6 hallers
lower than it opened. Against the dollar the koruna remained above 31 koruna
per dollar for most of the day, however, finally the koruna firmed as far as
at 30.830 as the dollar started to fall after worse-than-expected U.S.
figures were released.
Today's trading should be quite the same, we expect
the EUR/CZK to stay in range 30.250 - 30.450. Today the EUR/CZK opened at
30.360 and the USD/CZK at 30.800. The state budget deficit widened in July
to CZK 26.8 bn, while in July was only CZK 0.9 bn. In comparison with the
same period of the last year the deficit was by CZK 3.3 bn larger.
open max min cls open 2/8
EUR/CZK 30.260 30.365 30.260 30.320 30.360
USD/CZK 31.035 31.150 30.830 30.860 30.800
Stepanka Kuzilkova, Investment Research, CSOB