Czech crown falls to euro and even more to US dollar today

The crown fared the worst from among the currencies in the region, said Komercni banka analyst Miroslav Frayer.

"The Hungarian forint was losing only slightly, while the Polish zloty continued firming. It has been firming for the seventh day in a row, confirming its leading position among the currencies in the region," he said.

The crown, like the other neighbouring currencies, is influenced by what happens in the world, this week is poor in macroeconomic data.

Next week will be important for the Czech economy. A number of macroeconomic indicators will be released but the signals will probably not be too positive for the crown, Frayer noted.

"Industrial activity is expected to fall in a month-on-month comparison and retailers will likely also see a deterioration due to the unfavourable situation on the labour market. Unemployment in the Czech Republic is expected to keep rising," he said.

Only foreign trade data could be positive but trade surpluses will probably be falling in the coming months due to lower car exports and growing commodity prices.

Author: ČTK
www.ctk.cz