CEE MARKETS-Forint rises after EU deal for Ukraine aid, crown near one-year low
01/02/2024 10:57
PRAGUE, Feb 1 (Reuters) - The forint gained for a third
straight day on Thursday as EU states agreed on further aid to
Ukraine, taking market pressure off of Hungary, while the Czech
crown sat near a one-year low after dovish central banker
comments.
Markets were watching a summit of European Union leaders
where Hungarian Prime Minister Viktor Orban was centre stage as
other member states sought to get Hungary on board with the
bloc's 50 billion euros ($54 billion) aid package to Ukraine.
Budapest had already vetoed aid to Kyiv last month.
But the leaders' council President Charles Michel said on X
social media platform that all 27 EU members had agreed on the
package on Thursday, overcoming Hungarian objections.
The forint EURHUF= erased morning losses after the midday
announcement, and was up 0.2% on the day at 383.0 to the euro by
1041 GMT.
In the Czech Republic, the crown EURCZK= eased 0.1% to
24.90 to the euro, a day after weakening when a senior Czech
central banker told Reuters he was prepared to back at least a
50-basis-point cut at the bank board's policy meeting next week.
Deputy Governor Jan Frait said in an interview that he
expected a softer economic and rate outlook in the bank's
quarterly macroeconomic update.
His comments helped push market rates lower.
Poland's zloty EURPLN= was up 0.1%.
The region still faced market headwinds with the U.S.
dollar's strengthening - which cuts risk appetite in emerging
market assets - after Federal Reserve Chair Jerome Powell pushed
back against bets of a U.S. rate cut as soon as March.
Markets also digested weak manufacturing surveys showing a
rough start to 2024 for the sector.
CEE SNAPSH AT
MARKETS OT 1140
CET
CURREN
CIES
Latest Previo Daily Change
us
trade close change in 2024
EURCZK Czech 0 0
EURHUF Hungary 00 00 %
EURPLN Polish %
EURRON Romania %
EURRSD Serbian 00 50 %
Note: calcula 1800
daily ted CET
change from
Latest Previo Daily Change
us
close change in 2024
.PX Prague .PX 1456.7 1452.9 +0.26 +3.02%
4 200 %
.BUX Budapes .BUX 64423. 64044. +0.59 +6.27%
t 89 46 %
.WIG20 Warsaw <.WIG20 2295.1 2279.8 +0.67 -2.04%
> 0 6 %
.BETI Buchare .BETI 15585. 15512. +0.47 +1.39%
st 03 12 %
Spread Daily
vs change
Bund in
Czech spread
Republi
c
CZ2YT= 0 ps
CZ5YT= 0 ps
CZ10YT 0 ps
Poland
PL2YT= ps
PL5YT= ps
PL10YT 0 ps
FORWARD
(Reporting by Jason Hovet in Prague, Boldizsar Gyori in
Budapest and Pawel Florkiewicz in Warsaw; Editing by Kim
Coghill)
((jason.hovet@thomsonreuters.com))
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