The Slovak koruna strengthened to its new
all time high of EUR/SKK 36.150 before
noon on Monday. The unit opened at around
EUR/SKK 36.290 and started to appreciate -
supported by the positive regional sentiment.
Having closed trading under the EUR/SKK
36.20 threshold, the koruna moved in the
range of EUR/SKK 36.135 - 36.240 during
the day. The positive sentiment is persisting
amid an empty economic calendar. The
koruna should stay within the EUR/SKK
36.10-36.35 range on Tuesday.
Confirmation of the Samsung FDI project
(worth EUR440m) is allegedly due in the
days ahead which would be SKK supportive.
However, the speed of recent SKK gains
should limit the market's optimism and
appetite for new SKK long positions prior
to CPI and foreign trade data (due on
Friday).
(CSOB - Investment research)