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)