The Slovak koruna moved in a very narrow range of 10 hellers on Tuesday session. The released domestic news was mixed for the local currency and the unit failed to react. The state run SARIO investment agency confirmed the USD 570 mil. investment is on the way to Slovakia. However, the name of the investor is still unknown. The President Gasparovic rejected the nomination of the Deputy Finance Minister Mr. Tvaroska for the post of the NBS vice-governor for the monetary policy. This is not good news for the country that has aspiration to adopt euro in the near term. But both news had only limited impact on the market. Today, industrial production, wages and retail sales are on the agenda. We expect EUR/SKK to eye its regional peers for impetus on Wednesday.
(CSOB - Investment research)