CEE MARKETS-Forint hits 6-week low, zloty weakens
10/06/2024 12:48
(Adds new comment for forint and zloty, fresh FX prices and table)
BUDAPEST, June 10 (Reuters) -
Hungary's forint hit a 6-week low and the Polish zloty shed half a
percent on Monday as central European currencies were hit by weakened
international sentiment and a firming U.S. dollar.
The dollar put pressure on the forint and the zloty after
annual wage growth
reaccelerated
in the U.S., data published last week showed, reducing the
likelihood the U.S. Federal Reserve will be able to start rate cuts in
September.
"Worsening international sentiment and a strong dollar put
pressure on the zloty and the forint," said Zoltan Arokszallasi, head
of analysis at MBH Bank.
The forint EURHUF= had weakened 0.6% against the euro to
trade at 394, hitting a 6-week low by 1114 GMT.
The zloty EURPLN= traded at 4.33, hitting its lowest level since
early May.
"Generally, there's risk aversion on the broad market, which
is visible also on the zloty," a Warsaw-based FX trader said.
"I think the reason should be seen rather in global factors -
(U.S.) payrolls were on Friday, and today on Monday it's the European
parliament election, perhaps the dissolving of the government in
France."
The Czech crown EURCZK= held at stronger levels after hitting
nearly five-month highs last week below the 24.60 per euro level. It
traded at 24.65 on Monday.
Attention was also turning to May inflation data due on Tuesday,
with analysts expecting a slight slowdown after a surprise jump in the
previous month.
"But if there was a bigger upward surprise like in the previous
month, the crown could go on the offensive," analysts at bank CSOB
said. "On the other hand, the crown should be watching international
markets - mainly the Fed sitting (this week) that could close any
space for profits."
CEE SNAPSHOT AT
MARKETS 1314 CET
CURRENCIES
Latest Previous Daily Change
bid close change in 2024
EURCZK= Czech EURCZK= 24.6500 24.6370 -0.05% +0.21%
crown
EURHUF= Hungary EURHUF= 394.0000 391.6500 -0.60% -2.74%
forint
EURPLN= Polish EURPLN= 4.3295 4.3080 -0.50% +0.35%
zloty
EURRON= Romanian EURRON= 4.9766 4.9764 -0.00% -0.05%
leu
Note: calculated 1800
daily from CET
change
Latest Previous Daily Change
close change in 2024
.PX Prague .PX 1540.17 1546.760 -0.43% +8.92%
0
.BUX Budapest .BUX 69914.26 69879.43 +0.05% +15.33
%
.WIG20 Warsaw .WIG20 2413.38 2428.84 -0.64% +3.00%
.BETI Buchares .BETI 17984.01 18076.69 -0.51% +17.00
t %
Spread Daily
vs Bund change
in
Czech spread
Republic
CZ2YT=R 2-year CZ2YT=RR 4.2270 0.0320 +114bp +4bps
R s
CZ5YT=R 5-year CZ5YT=RR 4.2220 0.0370 +152bp +2bps
R s
CZ10YT= 10-year s
Poland
PL2YT=R 2-year PL2YT=RR 5.2260 0.0570 +214bp +6bps
R s
PL5YT=R 5-year PL5YT=RR 5.6020 0.0570 +290bp +4bps
R s
PL10YT= 10-year s
Note: are for
FRA ask prices
quotes
******************************************
********************
(Reporting by Boldizsar Gyori in Budapest, additional reporting by
Badohal Karol in Warsaw and Jason Hovet in Prague; editing by Mark
Potter and Jason Neely)
((boldizsar.gyori@thomsonreuters.com;))
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