The Slovak koruna had a very quiet range-bound session that ended with some marginal gains. There was no fresh news to guide the market. Today, the lack of important domestic events or data suggests the same trading story. The koruna will further follow mainly regional factors, but we don’t expect major movements to occur, instead settling down in a sideways trading pattern again. The next market moving factor could come with the NBS Bank Board meeting on Friday, although the market will probably fail to receive any stimulus if the market’s expectations prove correct and the policy rate remains unchanged. The tone of the central bank statement, however, will be crucial: a hawkish comment could support the unit to some extent.
(CSOB - Investment research)