The Slovak koruna lost ground at the start of the session yesterday

The Slovak koruna lost ground at the start of the session and moved to 37.80 EUR/SKK. There was no much of domestic events to explain this move, the pair was just tracking regional markets. However, the unit bounced back later during the day and closed just marginally above the opening level. The focus will be on ECB today and payrolls tomorrow, with that in mind we expect sideways trading as the market awaits these releases to determine the global sentiment. The expected hawkish comments from the ECB may have only limited negative effect but we cannot exclude the upside risk to 37.85 prevailing.

(CSOB - Investment research)