Investiční bankovnictví (Komerční banka)
Currencies  |  September 24, 2012 16:49:00

Crown on Monday continued to weaken

Regional currencies continued today in the correction of its profits from the previous weeks. Business in the region, affecting both the weakening of the euro against the dollar and local factors. These are mainly expected interest rate cut by the CNB on Thursday and Hungarian central bank on Tuesday. Crown and forint benefit neither published indicators of confidence in the economy in September. Czech currency so wrote less than three tenths of one percent, when it traded above the 24.90 CZK / EUR. Losses of around a third percent scored forint and the zloty.

The confidence indicator for the Czech economy fell slightly in September from August's -3.6 points to -3.8 points. The moderate rise in business confidence could not offset the decline in consumer confidence, which again came in sight of May, thirteen-year lows.

Tomorrow will see the macroeconomic data of Polish August retail sales are expected to be modest monthly increase. In annual terms, however, should decelerate to 5.5%. Will be published by Polish August unemployment rate, which was estimated by analysts stagnate at 12.3%. Most watched event will be the outcome of the Hungarian central bank. August after a surprise rate cut to 6.75%, the market consensus for further easing of monetary conditions, the key rate should be reduced to 6.50%.

Czech swap curve today by 3-4 bp dropped.

Author: Marek Dřímal

Tyto zprávy pro vás vytváří Investiční bankovnictví KB.
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