Dealingové oddělení (Citfin - Finanční trhy a.s.)
Currencies  |  September 09, 2010 08:56:20

GDP faster, lower unemployment



Overview Wednesday news

CR: Q2 GDP according to final numbers increased by 2.4% y / yao 0.9% (2.2% předch. y / y and 0.8% q / q)

CR: August unemployment rate dropped to 8.6% from 8.7%

Germany: Industrial production for July lagged behind expectations, with growth of 10.9% y / y and 0.1% m / m (estimate: 12.5% ??y / y, 1% m / m

Euro in the middle: crown hovered on the edge of 24.70 CZK / EUR

According to Janacek from the CNB is unsustainable, that CR had a basic interest rate (0.75%) below the ECB's interest rate (1%). Also talked about how he saw no problem in the fact that in the future more often moved the base rate.

Neither of the reports from the domestic economy or statements of central bankers interested in the crown yesterday. They have remained valid, as indeed have the last few weeks, with very little movement around the border 24.70 CZK / EUR.

Overview of today's news

8:00 Germany: Consumer price index for August

9:00 CR: Consumer price index for August

13:00 VB: BoE rate is

Prerequisite for the day

Early figures on domestic inflation is unlikely to bring significant influence to the crown. Inflation is around 2%, which is fully in line with the expectations of CNB. Given the still low rate of domestic economy with inflationary pressures do not increase, which is also reflected in the monetary policy set by the CNB. Much of the price increase is attributable to price increases rents, oil and energy prices.

For today is likely to keep crown still very quiet in the vicinity of 24.70 CZK / EUR.



Overview Wednesday news

Canada: Canada's central bank raised its key interest rate by 25 points to 1%

Dollar in the middle: crown oscillated in a broad band around 19.40 CZK / USD


Euro yesterday, slightly corrected its losses from previous days and we went up to 1.2750 USD / EUR. This weakening of the dollar could not get the crown and held in a wider band around 19.40 CZK / USD. Over 19.50 CZK / USD, we have not received.

The Fed Beige Book that the U.S. economy is sinking in the summer rather than to grow slightly. Still very weak housing market and high unemployment are a very bad combination. As we approach the election to Congress, B. Obama is preparing additional support packages for start-up world's largest economies.

Overview of today's news

14:30 U.S.: trade balance for July

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

P ředpoklad for today

Today we face from abroad, like every Thursday, unemployment benefits, plus the trade balance. Significant movement classes for today do not expect and count on the fact that the Crown can now roll over across the border 19.50 CZK / USD. It opens the crown this morning at 19.45 CZK / USD.



In recent months, rising energy prices. This may be a factor in the future, which increases the cost of inputs for business and this increase will have to move sooner or later the price of goods, namely the consumer. In this regard, it is likely some time delay due to the tight competition. The August inflation should be flat or only slightly jump to be 2%


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1.90 y / y

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