The Czech koruna tracked partly the
weakening zloty and forint yesterday and
gave up part of its previous gains.
Nevertheless koruna’s losses against the
euro were rather modest (the EUR/CZK
has remained below the 28.0 level), so the
ongoing dollar weakness brought a new
all-time low of the USD/CZK pair. No
domestic factors were involved in
Tuesday’s price action.
Today, the calendar of domestic events is
empty. Also the domestic politics still
remain out of the radar of FX investors.
Hence the global sentiment should
continue to play the major role. We bet on
quiet session with most of the attention
focused on US stocks and EUR/USD
developments. The empty calendar should
play in favour of a slight negative
correction.
(CSOB - Investment research)