The Slovak koruna rebounded from its
previous losses and finished Friday´s
session slightly stronger at 38.65. Today, the
calendar contains the June HICP data.
These shouldn’t play a big role in today’s
trading as they mostly don’t deviate much
from the overall inflation report released last
week.
However, they are important for the
central bank’s interest rate decision and the
NBS usually comments on them. The market
will again focus on any news from the
political scene and mainly details regarding
steps in the economic area. Also, the region
will play some role. The currency will
probably stay under pressure and we do not
exclude testing of last intervention levels.
Any strengthening will be further limited by
uncertainty concerning the steps of the new
government.
(CSOB - Investment research)