August 13, 2019 / 9:54 AM / 5 days ago

CEE MARKETS-CEE FX trades rangebound, Czech crown recovers marginally

    BUCHAREST, Aug 13 (Reuters) - Central European currencies
were mixed on Tuesday, trading in narrow ranges in the summer
lull, with the Czech crown recovering slightly after nearing a
six-month low the previous session.
    The crown, which shrugged off a surprise
acceleration of price growth at home, fell for a fourth straight
session on Monday, nearing the level of 25.875 which would be
its weakest since Feb. 12.
    By 0910 GMT, the Czech currency traded a tad firmer on the
day at 25.830 to the euro, but softer than the 25.40 average
forecast by the Czech National Bank for the current quarter.
Poland's zloty and Hungary's forint were
trading flat.
    The Polish zloty and the Romanian leu edged down
about 0.1%. The Hungarian forint was flat at 324.12 to
the euro.
    "Only a large deviation fromexpected U.S. inflation
reading can cause volatility, as lower than expected data can
fuel expectations for a deeper monetary easing by the Fed. If
the (US) inflation will be higher than expected, the reaction
will be rather small, because… it will not change expectations
for the prospects for monetary policy in the USA," said
Millennium Bank analysts.
    The Federal Reserve Bank of New York's survey of consumer
expectations showed that people's average outlooks for US
inflation declined over both one- and three-year time horizons.
Uncertainty about inflation also fell.
    Stock exchange indexes in Prague, Budapest and
Warsaw were down around 0.5%, while Bucharest was 0.2%
up on the day.
            CEE       SNAPSHO   AT  1123                      
            MARKETS   T        CET                   
                      CURRENC                                 
                      IES                            
                      Latest   Previous    Daily     Change
                      bid      close       change    in 2019
 Czech      <EURCZK=  25.8350     25.8420    +0.03%     -0.50%
 crown      >                                        
 Hungary    <EURHUF=  324.060    324.1900    +0.04%     -0.92%
 forint     >               0                        
 Polish     <EURPLN=   4.3340      4.3280    -0.14%     -1.02%
 zloty      >                                        
 Romanian   <EURRON=   4.7260      4.7235    -0.05%     -1.52%
 leu        >                                        
 Croatian   <EURHRK=   7.3930      7.3893    -0.05%     +0.23%
 kuna       >                                        
 Serbian    <EURRSD=  117.650    117.6400    -0.01%     +0.55%
 dinar      >               0                        
 Note:      calculated from                1800 CET           
 daily                                               
 change                                              
                                                              
                      Latest   Previous    Daily     Change
                               close       change    in 2019
 Prague               1025.42   1030.6700    -0.51%     +3.94%
 Budapest             40593.1    40891.99    -0.73%     +3.72%
                            2                        
 Warsaw               2097.55     2109.73    -0.58%     -7.87%
 Bucharest            9126.19     9100.65    +0.28%    +23.60%
 Ljubljana  <.SBITOP   858.03      859.70    -0.19%     +6.69%
            >                                        
 Zagreb               1893.10     1894.12    -0.05%     +8.25%
 Belgrade   <.BELEX1   744.86      743.43    +0.19%     -2.21%
            5>                                       
 Sofia                 581.83      581.90    -0.01%     -2.12%
                      BONDS                                   
                      Yield    Yield       Spread    Daily
                      (bid)    change      vs Bund   change in
 Czech                                               spread
 Republic                                            
   2-year   <CZ2YT=R   1.1020      0.1390   +197bps     +16bps
            R>                                       
   5-year   <CZ5YT=R   0.6910     -0.0170   +156bps      -1bps
            R>                                       
   10-year  <CZ10YT=   0.9610     -0.0100   +157bps      +0bps
            RR>                                      
 Poland                                                       
   2-year   <PL2YT=R   1.5290     -0.0320   +240bps      -2bps
            R>                                       
   5-year   <PL5YT=R   1.7340     -0.0130   +260bps      -1bps
            R>                                       
   10-year  <PL10YT=   1.8890     -0.0240   +250bps      -1bps
            RR>                                      
            FORWARD   RATE     AGREEMENT                      
                      3x6      6x9         9x12      3M
                                                     interbank
 Czech Rep               2.00        1.81      1.62       2.14
            <PRIBOR=                                 
            >                                        
 Hungary                 0.29        0.30      0.31       0.26
                                                     
 Poland                  1.70        1.66      1.59       1.72
                                                     
 Note: FRA  are for ask                                       
 quotes     prices                                   
 **************************************************           
 ************                                        
 

 (Reporting by Radu Marinas and Alicja Ptak; Editing by
Alexandra Hudson)
  
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