XM Amerika Qoʻshma Shtatlari fuqarolariga xizmat koʻrsatmaydi.

Forint 'frozen' near 22-month lows as currencies tread water



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CEE MARKETS-Forint 'frozen' near 22-month lows as currencies tread water</title></head><body>

By Krisztina Than

BUDAPEST, Oct 29 (Reuters) -Central Europe's currencies were steady on Tuesday, with the Hungarian forint stuck near 22-month lows to the euro and the zloty easing as uncertainty about the U.S. presidential election and a firmer dollar weighed on the region's currencies.

"There is a slightly stronger dollar and the zloty is being sold, along with other CEE currencies... it's a reaction to the upcoming U.S. elections," said a Warsaw-based FX trader.

The dollar has been supported by anticipation that Donald Trump could win a second term as U.S. president, as his tax and tariff policies are seen as inflationary, which markets expect could keep U.S. rates high.

Hungary's forint EURHUF=, which has been the region's laggard with a 5.2% fall so far this year, was largely unchanged at 404.35 per euro at 0720 GMT.

"The forint is frozen, it could not firm past 404 to the euro in a lasting way yesterday as it moved in tandem with the zloty," brokerage Equilor said in a note.

Traders said macro data from the U.S. and also the eurozone later this week could move currency markets which were also trying to price in the Nov. 5 election in the United States.

"All in all, we anticipate a volatile week in terms of exchange rate movements," analysts at MHB Bank in Budapest said, adding that Hungarian yields also edged higher on Monday.

Investors are also waiting to see third-quarter GDP data from Hungary and the Czech Republic due on Wednesday, which could provide clues on the state of the economic recovery that has sputtered this year.

"This year is only the beginning of the healing process, as both consumer and business confidence (local and global) are limiting the Hungarian economy," ING analyst Peter Virovacz said in a note. "While consumption is already on the rise, investments have fallen off a cliff."

In Poland, the government is due to discuss amendments to the 2024 budget on Tuesday.

The zloty EURPLN= was 0.1% weaker at 4.3535 per euro.

"The złoty is weakening, although it must be admitted that the scale of depreciation remains quite limited...the level of PLN 4.37 per EUR remains an important technical level that can stop the pressure on the złoty," Bank Millennium said.


CEE MARKETS

SNAPSHOT

AT 0918 CET






CURRENCIES







Latest

Previous

Daily

Change




trade

close

change

in 2024

EURCZK=

Czech crown

EURCZK=

25.3800

25.3620

-0.07%

-2.67%

EURHUF=

Hungary forint

EURHUF=

404.3500

404.7000

+0.09%

-5.23%

EURPLN=

Polish zloty

EURPLN=

4.3535

4.3510

-0.06%

-0.21%

EURRON=

Romanian leu

EURRON=

4.9745

4.9740

-0.01%

-0.00%

EURRSD=

Serbian dinar

EURRSD=

116.9300

117.0500

+0.10%

+0.27%


Note: daily change

calculated from



1800 CET












Latest

Previous

Daily

Change





close

change

in 2024

.PX

Prague

.PX

1655.89

1647.7200

+0.50%

+17.11%

.BUX

Budapest

.BUX

74309.18

74122.77

+0.25%

+22.58%

.WIG20

Warsaw

.WIG20

2249.70

2245.79

+0.17%

-3.98%

.BETI

Bucharest

.BETI

17498.29

17372.05

+0.73%

+13.84%













Spread

Daily






vs Bund

change in


Czech Republic





spread

CZ2YT=RR

2-year

CZ2YT=RR

3.4190

-0.0200

+127bps

-4bps

CZ5YT=RR

5-year

CZ5YT=RR

3.7410

-0.0410

+162bps

-6bps

CZ10YT=RR

10-year

CZ10YT=RR

4.0590

0.0060

+175bps

-2bps


Poland






PL2YT=RR

2-year

PL2YT=RR

4.8760

0.0240

+273bps

+1bps

PL5YT=RR

5-year

PL5YT=RR

5.5070

0.0140

+339bps

-1bps

PL10YT=RR

10-year

PL10YT=RR

5.9040

0.0880

+360bps

+7bps










FORWARD RATE AGREEMENTS








3x6

6x9

9x12

3M interbank


Czech Rep

CZKFRAPRIBOR=

3.80

3.52

3.36

4.08


Hungary

HUFFRABUBOR=

6.91

6.82

6.72

6.43


Poland

PLNFRAWIBOR=

5.71

5.26

4.86

5.86


Note: FRA quotes

are for ask prices






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










Additional reporting by Alan Charlish and Pawel Florkiewicz in Warsaw Editing by Andrew Cawthorne

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