July 27, 2020 / 9:48 AM / 11 days ago

CEE MARKETS-Crown touches 4-1/2 month high as dollar wilts

    PRAGUE, July 27 (Reuters) - Central Europe's currencies
firmed to multi-week highs on Monday, with the Czech crown at
its strongest since mid-March as a weaker dollar boosted the
market. 
    Currencies kept up gains seen since last week, lifted by a
spike in the euro - the region's main reference currency -
against the dollar, dealers said.
    The crown firmed to its strongest against the euro since
March 13, when the novel coronavirus outbreak started hammering
central European markets. However, some dealers said more
resistance could be seen ahead at current levels.
    The crown traded up 0.25% at 26.203 to the euro at
0921 GMT, while the Polish zloty led gains with a 0.3%
rise and was at 4.4007 to the euro after earlier touching
4.4000, its highest since June 3.
    "Euro/dollar is on the top, gold is on the top. I don't
think there is too much space for a bigger move (from here)," a
Prague-based dealer said.
    Stocks and currencies in the region were lifted last week by
the European Union's 750-billion-euro coronavirus recovery
package, which would see healthy portions sent to Poland,
Hungary and Romania. 
    The Hungarian forint gained 0.2% to 345.90 to the
euro, having firmed past key levels last week. Equilor analysts
said the 342-343 level, at which the forint last traded in the
first half of June, would be the next key point.
    The region's stock markets moved mostly sideways, with
Warsaw and Prague up as much as 0.25% and
Budapest down 0.2%. 
    Debt markets were mixed. Fitch ratings agency affirmed the
Czech Republic at 'AA-' on Friday evening and left a stable
outlook. 
    Raiffeisen said though that S&P's downgrade for Slovakia to
a negative outlook could put pressure on the rest of the region.

    
                   CEE      SNAPSHO   AT                      
                   MARKETS  T        1121              
                                     CET               
                                                              
                   CURRENC                                    
                   IES                                 
                            Latest   Previou  Daily    Change
                                     s                 
                            bid      close    change   in 2020
 EURCZK  Czech     <EURCZK  26.2030  26.2690   +0.25%   -2.94%
 =       crown     =>                                  
 EURHUF  Hungary   <EURHUF  345.900  346.480   +0.17%   -4.27%
 =       forint    =>             0        0           
 EURPLN  Polish    <EURPLN   4.4007   4.4147   +0.32%   -3.28%
 =       zloty     =>                                  
 EURRON  Romanian  <EURRON   4.8270   4.8315   +0.09%   -0.80%
 =       leu       =>                                  
 EURHRK  Croatian  <EURHRK   7.5160   7.5215   +0.07%   -0.94%
 =       kuna      =>                                  
 EURRSD  Serbian   <EURRSD  117.520  117.640   +0.10%   +0.04%
 =       dinar     =>             0        0           
         Note:     calculated from            1800            
         daily                                CET      
         change                                        
                                                              
                   STOCKS                                     
                            Latest   Previou  Daily    Change
                                     s                 
                                     close    change   in 2020
 .PX     Prague              917.27  915.870   +0.15%  -17.78%
                                           0           
 .BUX    Budapest           35024.9  35107.9   -0.24%  -24.00%
                                  6        7           
 .WIG20  Warsaw    <.WIG20  1814.88  1810.33   +0.25%  -15.59%
                   >                                   
 .BETI   Buchares           8589.19  8551.29   +0.44%  -13.91%
         t                                             
 .SBITO  Ljubljan  <.SBITO   852.08   852.29   -0.02%   -7.97%
 P       a         P>                                  
 .CRBEX  Zagreb    <.CRBEX  1587.06  1595.26   -0.51%  -21.33%
                   >                                   
 .BELEX  Belgrade  <.BELEX   653.74   663.56   -1.48%  -18.45%
 15                15>                                 
 .SOFIX  Sofia     <.SOFIX   440.55   440.18   +0.08%  -22.46%
                   >                                   
                                                              
                   BONDS                                      
                            Yield    Yield    Spread   Daily
                            (bid)    change   vs Bund  change
                                                       in
         Czech                                         spread
         Republic                                      
 CZ2YT=    2-year  <CZ2YT=   0.1250   0.0900   +078bp    +9bps
 RR                RR>                              s  
 CZ5YT=    5-year  <CZ5YT=   0.4000  -0.0510   +106bp    -4bps
 RR                RR>                              s  
 CZ10YT            <CZ10YT   0.8520   0.0070   +132bp    +3bps
 =RR     10-year   =RR>                             s  
         Poland                                               
 PL2YT=    2-year  <PL2YT=   0.1290  -0.0030   +078bp    -1bps
 RR                RR>                              s  
 PL5YT=    5-year  <PL5YT=   0.7590  -0.0110   +142bp    +0bps
 RR                RR>                              s  
 PL10YT            <PL10YT   1.3620  -0.0070   +183bp    +2bps
 =RR     10-year   =RR>                             s  
                                                              
                   FRA                                        
                            3x6      6x9      9x12     3M
                                                       interba
                                                       nk
         Czech     <CZKFRA     0.31     0.32     0.34     0.34
         Rep       ><PRIBO                             
                   R=>                                 
         Hungary   <HUFFRA     0.60     0.60     0.59     0.60
                   ><BUBOR                             
                   =>                                  
         Poland    <PLNFRA     0.20     0.20     0.22     0.25
                   ><WIBOR                             
                   =>                                  
         Note: FRA quotes are for                             
         ask prices                                    
         ********************************************         
         ******************                            
                                                              
    

 (Reporting by Jason Hovet in Prague and Krisztina Than in
Budapest; Editing by Jan Harvey)
  
 
 
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