The Czech currency shrugged off May’s
weaker-than-expected foreign trade figures
and traded mostly sideways on Friday.
Moreover the unit also ignored the second
unsuccessful attempt to appoint Speaker of
Parliament, which is the best indicator of the
prevailing political deadlock.
Today, the Czech koruna should enjoy
improved sentiment in emerging markets as
June’s weaker-than-expected US payrolls
brought some relief to the region. So, unless
the Polish zloty extend its losses the
EUR/CZK will stay in a tight range bellow to
the 28.50 level.
(CSOB - Investment research)