TNBiz (TNBiz)
Currencies  |  October 07, 2010 12:05:10

Crown remains on Wednesday at 24.47 CZK / EUR


Mediafax

PRAGUE (MEDIAFAX) - Czech currency came into Thursday's trading at rest, currently (11:40) moves about on Thursday, closing at 24.47 CZK / EUR. This follows from the data server Patria Online.

"Early data from the Czech economy can be assessed overall positively reflecting faster industrial growth. The market, however, this information did not cause any great stir. But this is not just an immediate reaction, the improving domestic fundamentals may be the crown for support in the coming weeks, "said Thomas Wolf, an analyst at Patria Finance.

Other currencies in the region are doing differently. The Polish zloty strengthened to a very slight 3,962 PLN / EUR (in the middle of 3965). Hungarian forint depreciated to 272.3 HUF / EUR (271.1 in the middle).

"The euro before the meeting of the European Central Bank (ECB) and continues to run against the dollar is already closely approached 1.4000. Subsequently, the rate retreated to 1.3970 USD / EUR, but testing the boundaries are clearly on the agenda, "says Wolf. Wednesday's negative data from the labor market in the U.S. market, according to him, reinforce the view that the next wave of quantitative easing to come. "Bad news from Europe as a downgrade for Ireland were again virtually ignored. Given the dramatic shift in the exchange rate increases the importance of today's meeting of the ECB. Rates will vary, the bank also proceeds in phasing out programs for the supply of liquidity, "said Wolf. Krona strengthened against the dollar Wednesday from 17.56 to 17.52 CZK current / USD.

"More of today's date as the German industrial production and U.S. applications for unemployment benefits will play a supporting role and can cause a wobble just a short course. Chance to influence the mood of the markets but earnings season is beginning, "said Wolf.

Tomas Cizek, cizek@mediafax.cz

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Koruna zůstává na středeční úrovni 24,47 CZK/EUR

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