The Slovak koruna overwrote its historical
table already in the morning of Friday’s
session, as it firmed to new all-time highs
at 36.78 EUR/SKK. This morning, the
koruna is strengthening again, hitting the
36.76 zone at the time of writing. This
week’s calendar is relatively unattractive.
Economic data are few and include only the
harmonised inflation data published on
Tuesday.
Today, in the absence of fresh
economic data releases, external factors are
likely to dominate koruna’s intraday path.
The koruna could have the potential for
further appreciation in the days ahead. But
we are of the opinion that recent koruna
strengthening has been too fast, which
means that we could see some correction
and then the EUR/SKK pair is likely to
stabilise.
(CSOB - Investment research)