Today the koruna is expected to be calm and flat again

The Czech koruna opened stronger yesterday, the unit even touched 31.72 in the afternoon. However, the koruna closed at 31.80 zone, little changed compare to opening value. The negative sentiment is almost overdone, investors do not fear of any escalation of the political crisis. Moreover rising other Central European currencies helped the koruna. Today, Mr. Spidla will deliver his delayed resignation and President Klaus will start discussions with party leaders on a new government. Government budget balance for June is due in the afternoon but it hardly attracts a lot of interest of traders and investors. Approaching long weekend in Czechia might limit market activity. Thus we expect the koruna to be calm and flat again.

ČSOB - Investiční výzkum