Dealingové oddělení (Citfin - Finanční trhy a.s.)
Currencies  |  September 02, 2010 08:49:14

Crown benefits from higher risk appetite



Overview Wednesday news

Germany: Retail sales fell in July month on month by 0.3% year on year and grew by 0.8%, worse than waiting for markets

The euro zone: PMI of manufacturing sector in August fell from 55 points to 55.1 b - review

CR: the budget end of August rose to 78.7 billion

Euro in the middle: the crown was in the stronger band from 24.68 to 24.80 CZK / EUR

The data does not intervene in trading, but yesterday's figures from the U.S. supported the risk appetite of investors for which benefited from the Czech koruna, among others.

While in the past few days have been above 24.85 CZK / EUR, yesterday he scored more than 10 cents.

Overview of today's news

9:00 Slovakia: GDP for Q2 2010

11:00 Eurozone: GDP per 2.Q.2010

13:45 ECB: Decisions on rates

Prerequisite for the day

Crown opens this morning around 24.70 CZK / EUR. Crown to hold similar values ??on which closed yesterday.

It seems that the actual numbers from the U.S. supporting more risky assets. The crown of this sentiment may have short-term benefit and do not exclude that the credit further slight gains. Boundaries of 24.60 CZK / EUR is not excluded. In the short term, however, does not change anything and still waiting for crown correction to 25.00 CZK / EUR.

Today we are waiting for the band moving from 24.65 to 24.85 CZK / EUR.



Overview Wednesday news

U.S.: ADP report for August showed a decline of 10,000 jobs expected to grow 15 000, less than a market waiting

U.S.: August index of activity in the manufacturing sector rose to 56.3 points, better than waiting for markets

Dollar in the middle: crown strengthened to 19.25 CZK / USD


The main role played yesterday again risk aversion. Taste players in the market to buy risky assets hurt the dollar and sent him to the $ 1.2800 / €. The crown of which was able to get when zakončovala session yesterday at 19.25 CZK / USD.

This was largely the result of greater activity index in August in the manufacturing sector and its review in July.

Overview of today's news

14:30 U.S.: weekly number of applications for unemployment benefits

16:00 U.S.: corporate orders for July

16:00 U.S.: rozjednané home sales for July

P ředpoklad for today

It can be assumed that the risk in the markets once again turns the mood and the dollar begins to recover their losses. Threat and fear of future development is currently before us more than security and positive mood, so it can be assumed that risk aversion will continue much inflected theme.

Crown would have today can maintain a relatively strong level, but her return to weaker levels than we see as more likely.

Today also sits on the ECB and the negotiation of rates. In this area we do not expect any surprises. At the meeting, it is interesting that the new macroeconomic forecast published.

For today we expect a movement of the crown in the band 19.15 to 19.45 CZK / USD.


ADP Report

This is a report that lists unemployment in the private sector. It forms a substantial part of total unemployment, and given that it is always published the day before the total numbers, enjoys great attention.

News of the foreign markets brings you Citfin,
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