CEE MARKETS-Zloty, forint firms on euro jump, Czech crown lags behind
01/07/2024 09:46
By Boldizsar Gyori
BUDAPEST, July 1 (Reuters) - Central European currencies
firmed or held steady on Monday as the euro firmed and markets'
risk-appetite grew following the first round of French
parliamentary elections that somewhat eased investor
uncertainty.
Hungary's forint EURHUF= firmed 0.4% to a 3-week high to
trade at 393.1 to the euro, with the Polish zloty EURPLN= also
firming 0.34% to trade at 4.295 at 0831 GMT.
"July begins with a strong upward trend in the Eurodollar
market as a reaction to the results of the first round of
parliamentary elections in France," Bank Millennium said in a
note.
"They indicate the victory of the far-right National Union,
but with slightly less support than the polls indicated."
The euro jumped on Monday after a convincing and historic
win by the French far right in the first round of parliamentary
elections fell slightly short of some expectations, leaving the
final result dependent on party deals before a second round next
weekend.
The crown underperformed its central European peers by
holding steady since markets opened, trading at 25.01, returning
from a 2-month low touched last week when the Czech National
Bank (CNB) cut its key two-week repo rate CZCBIR=ECI by 50
basis points on Thursday, on the sharper end of expectations.
"The Czech crown is under pressure after the surprise 50bps
interest rate cut in June and is moving above the key
psychological level of EUR 25.00/CZK," CSOB Bank said in a note.
"The crown may thus be at the mercy of political tensions in
Europe in the coming weeks and months."
Hungarian, Czech and Polish manufacturing activity all
showed contraction for June, S&P Global's manufacturing
Purchasing Managers' Index (PMI)showed, with the results coming
in below the 50-point mark that separates growth from
contraction.
CEE SNAPSHOT AT
MARKETS 1031
CET
CURRENCI
ES
Latest Previ Daily Change
ous
trade close change in 2024
EURCZK Czech EURCZK= 25.0110 25.03 +0.10 -1.24%
= crown 70 %
EURHUF Hungary EURHUF= 393.1000 394.7 +0.42 -2.52%
= forint 500 %
EURPLN Polish EURPLN= 4.2950 4.309 +0.34 +1.15%
= zloty 5 %
EURRON Romania EURRON= 4.9770 4.977 +0.01 -0.05%
= n leu 5 %
EURRSD Serbian EURRSD= 116.9300 117.0 +0.08 +0.27%
= dinar 200 %
Note: calculated from 1800
daily CET
change
Latest Previ Daily Change
ous
close change in 2024
.PX Prague .PX 1548.98 1545. +0.20 +9.54%
9100 %
.BUX Budapes .BUX 71836.75 72094 -0.36% +18.50%
t .79
.WIG20 Warsaw .WIG20 2572.87 2561. +0.45 +9.81%
27 %
.BETI Buchare .BETI 18219.86 18244 -0.14% +18.53%
st .75
Spread Daily
vs change in
Bund
Czech spread
Republi
c
CZ2YT= 0 ps
CZ5YT= 0 ps
CZ10YT 0 ps
Poland
PL2YT= 0 ps
PL5YT= 0 ps
PL10YT 0 ps
FORWARD RATE
AGREEMENTS
3x6 6x9 9x12 3M
interbank
Czech CZKFRA < 4.36 4.12 3.93 4.71
Rep PRIBOR=>
Hungary HUFFRA < 7.11 6.84 6.54 6.89
BUBOR=>
Poland PLNFRA < 5.80 5.67 5.37 5.85
WIBOR=>
Note: are for ask prices
FRA
quotes
*******************************************
*******************
(Reporting by Boldizsar Gyori in Budapest; additional reporting
by Jan Lopatka in Prague; Editing by Mrigank Dhaniwala)
((boldizsar.gyori@thomsonreuters.com;))
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