Slovak crown steady, mkt eyes data, budget debate

05.12.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, Dec 5 (Reuters) - The Slovak crown was little 
changed against the euro on Tuesday morning as dealers waited 
for new impetus from a parliamentary budget debate and data 
releases later in the week. 
    The crown traded at 35.510 to the euro <EURSKK=> at 0915 
GMT, flat from 35.500 late on Monday. 
    The Slovak unit is now near its all-time highs of 35.450 per 
euro, which it hit last week, and dealers said positive signals 
from the economic data releases could boost the currency again. 
    "This week will bring sound macro data, so we think the 
crown might be ripe to extend its all-time highs to 35.3-35.4 
per-euro levels," ING Bank said in a market comment. 
    The Statistics Office will release detailed GDP data for the 
third quarter on Thursday, and the market will watch whether the 
figure confirms the record 9.8 percent growth from the 
preliminary reading. Industrial output data are due on Friday. 
    The parliament will start debating the 2007 state budget 
draft on Tuesday. 
    "Keeping the headline fiscal deficit at 2.9 percent of the 
projected GDP, including pension reform costs, is crucial for 
the market, and we see that as very likely," Slovenska 
Sporitelna senior analyst Maria Valachyova said. 
    The assembly does not have a deadline for approving the 
budget, but the debate traditionally does not last more than two 
weeks. 
----------------MARKET SNAPSHOT AT 0915 GMT------------------- 
Crown/Euro <EURSKK=> 35.510 vs 35.500 on Monday 
Crown/Dollar <SKK=> 26.690 vs 26.700 
5-yr govt bond <SK5YT=RR> yield unchanged at 4.351/149 pct 
8-yr govt bond <SK8YT=RR> yield unchanged at 4.301/101 pct 
-------------------------------------------------------------- 
 ((Reporting by Peter Laca, editing by David Stamp; Reuters 
Messaging: peter.laca.reuters.com@reuters.net)) 
  Keywords: MARKETS SLOVAKIA CROWN MORNING 
    

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