Treasury - Daily Forex for day 31.05.2004

...manufacturing activity report overshadowing weaker-than-expected consumer sentiment index. The University of Michigan's final consumer sentiment reading was 90.2 in May, below market forecasts for a flat reading of 94.2. By contrast, the Chicago Purchasing Management index pointed to surging manufacturing activity in the U.S. Midwest, up at 68.0 in May after 63.9 in April and much above predictions of 61.0. Markets' attention now turns to Friday's U.S. employment data for May.

The Czech crown reentered the upward path on Friday, approaching the eighth-month highs versus the euro seen earlier last week. The crown seemed tracking other currencies of CEE region, namely the Polish zloty and the Slovak crown, which also posted gains against the euro.