Treasury - Daily Forex for day 30.11.2004

...payrolls figures on Friday. This afternoon, the preliminary reading of third-quarter GDP in the U.S. should be released as well as the November reading of the Chicago PMI and the Conference Board's consumer confidence index. On Thursday, the European Central Bank holds a monetary policy meeting, but the economists expect it to keep interest rates unchanged at 2%.

The crown continued to trade near the 31.00 per euro mark yesterday, with the market awaiting cabinet's decision on the form of the sale of a 51% state stake in Cesky Telecom worth some $2.5 billion on Wednesday. After approving the sell-off, the government should cooperate with the central bank in finding ways to prevent the privatization from lifting the crown. This morning, the currency showed little reaction to news that real wages rose 4.0% in the third quarter, quickening from a 1.7% increase in the second quarter.