The Slovak forex market was quiet on
Friday and showed only limited reaction to
the slowdown of the industrial production.
The industrial output rose by a real 8.3
percent y/y in July after 12.0 percent growth
reported in June. Additionally, the PSA car
factory reported to reduce its EUR 350 mil
investment plan. However, it will still produce
a new small-size car (EUR 700 mil
investment). The local currency did not react
on the news as it was released after the
closing bell. Overall, the currency was
slightly down. Today, foreign trade is on the
agenda. We expect a market reaction only in
the case of the strong surprise. The CPI
(Tuesday) should take more of traders’
attention. We expect range trading today
(EUR/SKK 37.450 – 37.650).
(CSOB - Investment research)