XM does not provide services to residents of the United States of America.

Forint falls to near two-year low



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CEE MARKETS-Forint falls to near two-year low</title></head><body>

By Anita Komuves

BUDAPEST, Nov 28 (Reuters) -The Hungarian forint weakened to a near two-year low on Thursday, extending its losses from this week and underperforming regional peers in thin trading as U.S. markets were closed for the Thanksgiving holiday.

The forint EURHUF= eased 0.1% to trade at 413.5 per euro, its weakest since December 2022.

"There is nothing new behind this weakening, but the forint is still the weakest link in the region," an FX trader in Budapest said.

"Technically, the forint is oversold at this level, so a correction is due sooner or later. I expect the rate to firm back to around 410 next week," he said.

The currency has been hit by geopolitical uncertainties and by the victory of Donald Trump in the U.S. presidential election as the prospect of trade tariffs boosted the dollar.

The forint, central Europe's worst performer in 2024 so far, has lost more than 7% since the start of this year and plunged to a new low versus the Polish zloty.

"EUR/USD is down 5% since early October and HUF has lost roughly the same against EUR. On the other hand, PLN and CZK have only lost 0.7% and 0.9% since then," ING wrote in a note.

"Of course, the local story is not supportive in Hungary for FX, but we believe the rest of the region will sooner or later follow the HUF depreciation in response to the US election and the new environment for CEE FX," they said.

The zloty EURPLN= was little moved at 4.308 per euro. The currency is up 0.9% this year, the best performer in the CEE region, buoyed by stable rates and an inflow of European Union funds.

Elsewhere, the Czech crown EURCZK= edged up 0.05% to trade at 25.285 per euro.





CEE MARKETS

SNAPSHOT

AT 0932 CET






CURRENCIES







Latest

Previous

Daily

Change




trade

close

change

in 2024

EURCZK=

Czech crown

EURCZK=

25.2850

25.2970

+0.05%

-2.31%

EURHUF=

Hungary forint

EURHUF=

413.8000

412.9900

-0.20%

-7.40%

EURPLN=

Polish zloty

EURPLN=

4.3080

4.3076

-0.01%

+0.85%

EURRON=

Romanian leu

EURRON=

4.9767

4.9767

+0.00%

-0.05%

EURRSD=

Serbian dinar

EURRSD=

116.9000

116.9800

+0.07%

+0.30%


Note: daily change

calculated from


1800 CET












Latest

Previous

Daily

Change





close

change

in 2024

.PX

Prague

.PX

1690.73

1688.8200

+0.11%

+19.57%

.BUX

Budapest

.BUX

79138.69

79034.00

+0.13%

+30.55%

.WIG20

Warsaw

.WIG20

2191.72

2186.69

+0.23%

-6.46%

.BETI

Bucharest

.BETI

16849.68

16971.55

-0.72%

+9.62%













Spread

Daily






vs Bund

change in


Czech Republic





spread

CZ2YT=RR

2-year

CZ2YT=RR

3.2820

-0.0090

+126bps

+1bps

CZ5YT=RR

5-year

CZ5YT=RR

3.6100

-0.0030

+162bps

+2bps

CZ10YT=RR

10-year

CZ10YT=RR

3.9050

0.0020

+176bps

+3bps


Poland






PL2YT=RR

2-year

PL2YT=RR

4.8940

-0.0040

+287bps

+2bps

PL5YT=RR

5-year

PL5YT=RR

5.2370

-0.0110

+325bps

+2bps

PL10YT=RR

10-year

PL10YT=RR

5.6220

-0.0080

+348bps

+2bps



FORWARD








3x6

6x9

9x12

3M interbank


Czech Rep

CZKFRAPRIBOR=

3.74

3.56

3.38

3.89


Hungary

HUFFRABUBOR=

6.98

6.62

6.28

6.50


Poland

PLNFRAWIBOR=

5.68

5.12

4.73

5.85


Note: FRA quotes

are for ask prices





**************************************************************




Additional reporting by Pawel Florkiewicz in Warsaw. Editing by Mark Potter

For related news and prices, click on the codes in brackets: All emerging market news EMRG CEEU CEE/ Spot FX rates Eastern Europe spot FX EEFX= Middle East spot FX MEFX= Asia spot FX ASIAFX= Latin America spot FX LATAMFX= Other news and reports World central bank news CEN Economic Data Guide ECONGUIDE Official rates GLOBAL/INT Emerging Diary EMRG/DIARY Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY
</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.