Treasury - Daily Forex for day 28.04.2004

...March, while U.S. existing home sales also beat forecasts in March, soaring to their second-highest level ever. On the other hand, the euro got a boost from European Central Bank President Jean-Claude Trichet's comments, while being still underpinned by an upbeat report from Germany's Ifo institute released on Monday. Trichet expressed confidence in economic revival in Europe, dampening speculations about an interest rate cut. Nevertheless, Germany's six leading economic institutes cut their 2004 growth forecast of the European largest country to 1.5% from previous 1.7%.

The Czech currency extended its slide versus the euro on Tuesday, feeling the impact from the previous day's dividend approval by shareholders of Philip Morris. March foreign trade deficit came in higher-than-expected 4.6 billion crowns, but the market was little affected by the news.