Yesterday, sentiment on the Czech FX market switched into positive mode. That was
mainly due to positive surprise in Slovak GDP figures and good performance of
global stock markets. Hence the pair broke through several support levels and got as
far as EUR/CZK 28.13.
Today, we believe the positive sentiment on the Czech FX market could sustain. The
morning gains of Asian stock markets and weak US dollar are playing in favour of all
Central European currencies. Nevertheless in the morning most of the investors
should focus on the January inflation release. If we are right and the outcome is
above the Central bank’s forecast, the koruna might profit from that.
ČSOB - Investment Research