CEE MARKETS-Central-European currencies weaken amid general risk-off mood and firming dollar
02/07/2024 11:27
By Boldizsar Gyori
BUDAPEST, July 2 (Reuters) - The Hungarian forint and
the Polish zloty led losses in central Europe on Tuesday as a
risk-off mood prevailed in emerging markets and the dollar
strengthened.
The Polish zloty EURPLN= was trading at a 10-day low of
4.328 at 1019 GMT after briefly firming past the psychological
level of 4.3 euros during Monday's trading.
"The zloty returned above the level of 4.3113 per EUR,
which, based on technical analysis, changes the picture to a
less favourable one for the Polish currency," Bank Millennium
said in a note.
"We also believe that the persistence of political risk...
will not allow the region's currencies to appreciate strongly,"
the bank added, referring to the second round of French
elections this weekend after the far right won the first round.
Hungary's forint EURHUF= led losses in the region by
weakening 0.4%, trading at 396.35, due to global factors such as
the strengthening of the dollar and eurozone inflation, Zoltan
Arokszallasi, head of analysis at Equilor said.
"The forint's movement seems to be influenced by global
factors, such as the U.S. dollar or the eurozone inflation,
which would show the rate path for the European Central Bank,"
Arokszallasi said.
Consumer inflation in the 20 nations sharing the euro
currency slowed to 2.5% in June from 2.6% a month earlier, in
line with expectations.
The figures are unlikely to provide the ECB much clarity on
where prices will go. ECB President Christine Lagarde had
already said that more time is needed to be certain, so there
should be no hurry to ease policy further.
The next forint-specific data that investors will be
watching are on retailers and industry output, scheduled to be
published on Friday this week, Arokszallasi said.
The Czech crown EURCZK= weakened by 0.2% and hit
late-Aprils lows at 25.2.
CEE SNAPSHOT AT
MARKETS 1219
CET
CURRENCIE
S
Latest Prev Daily Change
ious
trade clos change in
e 2024
EURCZK= Czech EURCZK= 25.1990 25.1 -0.19% -1.97%
crown 500
EURHUF= Hungary EURHUF= 396.3500 394. -0.43% -3.32%
forint 6500
EURPLN= Polish EURPLN= 4.3285 4.31 -0.32% +0.37
zloty 45 %
EURRON= Romania EURRON= 4.9769 4.97 -0.02% -0.05%
n leu 61
EURRSD= Serbian EURRSD= 116.9500 117. +0.14 +0.25
dinar 1100 % %
Note: calculated from 1800
daily CET
change
Latest Prev Daily Change
ious
clos change in
e 2024
.PX Prague .PX 1557.29 1555 +0.11 +10.1
.620 % 3%
0
.BUX Budapes .BUX 71797.03 7228 -0.68% +18.4
t 8.23 4%
.WIG20 Warsaw .WIG20 2527.39 2553 -1.01% +7.87
.09 %
.BETI Buchare .BETI 18201.38 1817 +0.13 +18.4
st 7.50 % 1%
Spread Daily
vs change
Bund in
Czech spread
Republi
c
CZ2YT=RR 20 ps
CZ5YT=RR 120 ps
CZ10YT=R 00 ps
Poland
PL2YT=RR 70 ps
PL5YT=RR 340 ps
PL10YT=R 370 ps
FORWARD RATE
AGREEMENTS
3x6 6x9 9x12 3M
interb
ank
Czech CZKFRA < 4.38 4.15 3.97 4.70
Rep PRIBOR=>
Hungary HUFFRA < 7.11 6.87 6.61 6.87
BUBOR=>
Poland PLNFRA < 5.80 5.70 5.43 5.85
WIBOR=>
Note: are for ask prices
FRA
quotes
*******************************************
*******************
(Reporting by Boldizsar Gyori in Budapest; editing by Philippa
Fletcher)
((boldizsar.gyori@thomsonreuters.com;))
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