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Trading symbol EURCZK

Forex Symbol «EURO vs Czech Koruna» or «EURCZK»

EUR/CZK is popular currency pair in the Forex market. Czech Republic is actively trading with the European Union. The European Union is the largest business partner of the country. For this reason, the trading instrument EURCZK is very popular among experienced traders who choose this trade instrument for reasons of high stability and predictability of the economies of the euro area and Czech Republic. The most intense bidding on a specific financial instrument observed during the work time of European stock exchanges.

EURCZK is the cross rate against the U.S. dollar. Although the U.S. Dollar obviously is not present at this currency pair, it still has a significant influence on it. This can be seen, if you combine two charts: EURUSD, USDCHK. By combining these two charts in the same price chart, you can get an approximate EURCZK chart.

The U.S. dollar has a significant influence on both currencies. For this reason it is necessary to take into account the major U.S. economic indicators for the correct prediction of a future course of this financial instrument. These indicators include: the discount rate, GDP, unemployment, new created workplaces indicator and many others. Is necessary to note that discussed currencies could respond with different speed on changes in the U.S. economy, therefore, EURCZK currency pair may be a specific indicator of change at these currencies.

The Czech Republic is one of the most advanced industrialized countries of central Europe. The country is one of the most prosperous and stable among all the countries of the region. Czech Republic has a high rate of personal income, which provides by a high level of economic development.

The main sectors of Czech Republic economy are: machinery, iron and steel production, chemical industry, electronics, industry for the production of beer, as well as agriculture. The most developed economic sector is the automotive industry. Czech Republic has one of the highest rates of car production in the world, most of which is exported. In addition, the Czech Republic is one of the leading exporters of beer and shoes. In addition, significant portions of Czech export are variety of chemical products: tires, synthetic fibers, etc. The main trade partners of the Czech Republic are Germany, Russia, Slovakia and Austria. The Czech Republic is one of the leaders in Europe in sphere of electricity production, due to the presence in this country a wide range of possibilities to product the electric power: nuclear, thermal, hydro, and solar and wind power.

If you trade cross rates, it is necessary to remember that brokers are usually set a higher spread than the more popular currency pairs, so before you start working with the cross-rates, it should be carefully acquainted with the conditions offered by the broker to trade with specified trade instrument.

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