Dealingové oddělení (Citfin - Finanční trhy a.s.)
Currencies  |  June 20, 2011 09:35:59

The shift in the negotiations for Greece strengthened the crown



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CZK / EUR

Overview of Friday's news

Poland: Industrial production in May increased by 7.7%, the market expected 7.6%

Poland: prices of production in May dropped by 0.2%, the market expected to grow 0.4%

Hungary: wage in April rose by 5.9%, the market expected 4.1%

Euro area: finance ministers agreed on the involvement of the private sector to help Greece

Rate of the euro on Friday: crown strengthened from 24.22 CZK / EUR below 24.10 CZK / EUR

The Crown concluded last week, quite successfully. While morning still traded around 24.20 CZK / EUR during the day fell below the level of 24.10 CZK / EUR, again for this year's strongest values.

No domestic data released on Friday was the crown and help the positive mood in the markets. That brought in particular the agreement between France and Germany, the possible solution to the situation around Greece, where there was a consensus on the involvement of private investors, but on a voluntary basis.

Overview of today's news

10:00 Eurozone: current account balance

Eurozone: meeting of finance ministers continues to help Greece

14:00 Hungary: the outcome of the Central Bank

Prerequisite for the day

Crown begins again trading at a relatively strong levels around 24.15 CZK / EUR. It will monitor the developments of risk aversion in the markets and it now depends mainly on the developments around Greece. Will be important to see whether any time soon decided to help Greece. If so, it retains the crown strong levels, possible complications would have brought the crown back losses. At the same time, the market begins to prepare for Thursday's CNB meeting, but that would not bring a change in rates.

CZK / USD

Overview of Friday's news

Euro area: finance ministers agreed on the involvement of the private sector to help Greece

U.S.: Consumer Confidence University of Michigan in June fell to 71.8 points, 74.0 points with expected

Dollar on Friday:  strengthening of the crown under 17.12 16.90 CZK / USD

Crown have significantly improved their sales on Friday and against the U.S. dollar. While morning still held a course around 17.10 CZK / USD, on Friday afternoon fell below 16.90 CZK / USD. The dollar also lost against the euro, which of course got the level of $ 1.4150 / € and above the $ 1.4300 / €.

The market continues to monitor the situation of around Greece. On Friday, France and Germany agreed on the need for the involvement of private investors to help Greece. But that would be voluntary. This confirmed the weekend and the euro zone finance ministers, who agreed on the need for additional aid to Greece, but still decided to release another part of the assistance. Help makes other austerity measures.

Overview of today's news

Eurozone: meeting of finance ministers continues to help Greece

10:00 Eurozone: current account balance

Prerequisite for the day

The dollar is now trading just below the starting level of 17.00 CZK / USD above 1.4200 USD / EUR. Markets will continue to monitor events around Greece. There will be important to the ongoing discussions of eurozone finance ministers, who agreed to voluntary participation of private investors to help Greece. The question is how such participation would be voluntary. In addition, the aid has not yet been decided, it is subject to additional austerity measures.Any shift in favor of aid to Greece would bring further appreciation of the koruna to the dollar, while if further assistance is also uncertain, it will rather strengthen the dollar. Lean more to the scenario that eventually will help Greece and the dollar loses so on.

 




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Skupina Citfin

Nabízíme komplexní služby ve světě bankovnictví pro společnosti obchodující se zahraničím. Firemní účet, výhodné kurzy měn – webový kurzovní lístek, zahraniční platební styk, kurzovní zpravodajství a poradenství.
Multiměnový firemní účet můžete vést až ve 14-ti cizích měnách. Profesionální internetové bankovnictví umožňuje bezpečně a jednoduše řídit Vaše firemní finance. Výhodné devizové kurzy měn (euro EUR, dolar USD, libra GBP, PLN, JPY, CHF, SEK, DKK, HUF). Směna deviz zdarma. Nízké poplatky za zahraniční platby a inkasa.

Společnost působí na trhu již více než 13 let, její portfolio tvoří více než 3000 firemních klientů a roční obrat dosahuje 32 mld. Kč.

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