Currencies stable as markets await data and signals from Fed
WARSAW, Aug 19 (Reuters) -Central European currencies were mostly stable on Monday, with markets in Hungary closed for a holiday and investors awaiting fresh data later in the week.
The Polish zloty EURPLN= was unchanged at 4.2685 per euro at 0909 GMT after strengthening on Friday in low liquidity due to a national holiday on Thursday.
"This was clearly the result of... improvement in global moods due to the allaying of fears of a recession in the U.S.," Pekao SA analysts wrote in a note.
"The same factors will support the strengthening of the Polish currency today... We have a week of publication of key macro data for July ahead of us, which should not generate grounds for stronger movements in Polish assets."
Later this week investors in Poland will be analysing data on employment, industrial output and retail sales.
Traders will also pay attention to signals from Federal Reserve meeting minutes and Chair Jerome Powell's speech at Jackson Hole which may shed light on future U.S. central bank policy.
The Czech crown EURCZK= was up 0.1% at 25.1790 per euro.
"The Czech crown is holding close to EUR/CZK 25.20 and pressure from a strengthening dollar on Friday apparently weakened on the Czech foreign exchange market," CSOB said in a note to clients.
"The currency also did not show any marked reaction to July producer prices. The coming week will practically empty of any domestic events and the crown will continue, from afar, to follow the dynamics on the global bond markets and the euro/dollar."
Markets in Hungary will remain closed on Monday and Tuesday for a national holiday.
CEE MARKETS | SNAPSHOT | AT 1109 CET | ||||
CURRENCIES | ||||||
Latest | Previous | Daily | Change | |||
trade | close | change | in 2024 | |||
EURCZK= | Czech crown | EURCZK= | 25.1790 | 25.2010 | +0.09% | -1.90% |
EURHUF= | Hungary forint | EURHUF= | 393.4500 | 394.7500 | +0.33% | -2.61% |
EURPLN= | Polish zloty | EURPLN= | 4.2685 | 4.2680 | -0.01% | +1.78% |
EURRON= | Romanian leu | EURRON= | 4.9775 | 4.9750 | -0.05% | -0.06% |
EURRSD= | Serbian dinar | EURRSD= | 117.0100 | 117.0200 | +0.01% | +0.20% |
Note: daily change | calculated from | 1800 CET | ||||
Latest | Previous | Daily | Change | |||
close | change | in 2024 | ||||
.PX | Prague | .PX | 1579.86 | 1574.3300 | +0.35% | +11.73% |
.BUX | Budapest | .BUX | 72282.10 | 72282.10 | +0.00% | +19.24% |
.WIG20 | Warsaw | .WIG20 | 2417.10 | 2421.06 | -0.16% | +3.16% |
.BETI | Bucharest | .BETI | 18253.36 | 18138.95 | +0.63% | +18.75% |
Spread | Daily | |||||
vs Bund | change in | |||||
Czech Republic | spread | |||||
CZ2YT=RR | 2-year | CZ2YT=RR | 3.4040 | -0.0040 | +099bps | +4bps |
CZ5YT=RR | 5-year | CZ5YT=RR | 3.4750 | -0.0350 | +132bps | +0bps |
CZ10YT=RR | 10-year | CZ10YT=RR | 3.7370 | -0.0040 | +152bps | +4bps |
Poland | ||||||
PL2YT=RR | 2-year | PL2YT=RR | 4.9310 | 0.0090 | +252bps | +5bps |
PL5YT=RR | 5-year | PL5YT=RR | 5.1500 | -0.0040 | +300bps | +3bps |
PL10YT=RR | 10-year | PL10YT=RR | 5.3470 | -0.0020 | +313bps | +4bps |
FORWARD RATE AGREEMENTS | ||||||
3x6 | 6x9 | 9x12 | 3M interbank | |||
Czech Rep | CZKFRAPRIBOR= | 3.88 | 3.50 | 3.24 | 4.40 | |
Hungary | HUFFRABUBOR= | 6.31 | 5.88 | 5.49 | 6.54 | |
Poland | PLNFRAWIBOR= | 5.77 | 5.46 | 5.05 | 5.86 | |
Note: FRA quotes | are for ask prices |
Reporting by Anna Wlodarczak-Semczuk in Warsaw and Jan Lopatka in Prague; Editing by Alex Richardson
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