July 25, 2019 / 9:17 AM / a month ago

CEE MARKETS-Currencies steady, focus on ECB meeting

    By Luiza Ilie
    BUCHAREST, July 25 (Reuters) - Central European currencies
held steady against the euro in early trade on Thursday ahead of
a European Central Bank meeting expected to bring further signs
of monetary easing.
    Central banks in the region have adopted a wait-and-see
stance despite higher economic growth and inflation, as loose
global monetary policy had eased pressure on them to act.
    By 0830 GMT, the Hungarian forint was flat at
325.3 per euro, as were the Czech crown and the
Romanian leu, while the Polish zloty was
0.1% firmer.
    Analysts said lower than expected inflation and a widening
of the Hungarian trade surplus were positive for the forint. On
Tuesday, the Hungarian central bank maintained its dovish stance
at its rate-setting meeting.
    "The forint firmed yesterday, and if today the ECB makes
concrete announcements, this trend can continue and the forint
could start moving towards 324.40 versus the euro," brokerage
Equilor said in a note.  
    Stock markets were mostly stronger on the day. Bucharest's
 was 0.4% higher and Prague 0.1% while Warsaw
 and Budapest's were flat.
    Orange Polska shares jumped over 5% in early trade after it
published better that expected results on Wednesday. nFWN24P0LR]
    Shares of Hungarian pharma company Richter were trading 0.8%
higher, outperforming the wider Budapest market, after the
company announced this morning that it had signed a deal to sell
one of its flagship products in the Middle East and Africa.


            CEE       SNAPSHO   AT                      
            MARKETS   T        1040              
                               CET               
                      CURRENC                           
                      IES                        
                      Latest   Previou  Daily    Change
                               s                 
                      bid      close    change   in 2019
 Czech      <EURCZK=  25.5000  25.5160   +0.06%   +0.81%
 crown      >                                    
 Hungary    <EURHUF=  325.300  325.400   +0.03%   -1.30%
 forint     >               0        0           
 Polish     <EURPLN=   4.2513   4.2554   +0.10%   +0.90%
 zloty      >                                    
 Romanian   <EURRON=   4.7215   4.7199   -0.03%   -1.43%
 leu        >                                    
 Croatian   <EURHRK=   7.3830   7.3840   +0.01%   +0.37%
 kuna       >                                    
 Serbian    <EURRSD=  117.660  117.910   +0.21%   +0.54%
 dinar      >               0        0           
 Note:      calculated from             1800            
 daily                                  CET      
 change                                          
                                                        
                      Latest   Previou  Daily    Change
                               s                 
                               close    change   in 2019
 Prague               1076.55  1075.44   +0.10%   +9.12%
                                    00           
 Budapest             41316.1  41303.3   +0.03%   +5.56%
                            2        7           
 Warsaw               2337.36  2335.41   +0.08%   +2.67%
 Bucharest            8956.31  8923.44   +0.37%   +21.30
                                                       %
 Ljubljana  <.SBITOP   869.14   870.76   -0.19%   +8.07%
            >                                    
 Zagreb               1910.16  1914.83   -0.24%   +9.23%
 Belgrade   <.BELEX1   743.61   745.81   -0.29%   -2.37%
            5>                                   
 Sofia                 579.50   580.99   -0.26%   -2.52%
                      BONDS                             
                      Yield    Yield    Spread   Daily
                      (bid)    change   vs Bund  change
                                                 in
 Czech                                           spread
 Republic                                        
   2-year   <CZ2YT=R   1.3720   0.0950   +216bp   +10bps
            R>                                s  
   5-year   <CZ5YT=R   1.1560   0.0020   +188bp    +0bps
            R>                                s  
   10-year  <CZ10YT=   1.3650   0.0250   +175bp    +3bps
            RR>                               s  
 Poland                                                 
   2-year   <PL2YT=R   1.5200  -0.0110   +231bp    -1bps
            R>                                s  
   5-year   <PL5YT=R   1.7000  -0.0280   +242bp    -3bps
            R>                                s  
   10-year  <PL10YT=   2.0040  -0.0200   +239bp    -1bps
            RR>                               s  
            FORWARD   RATE     AGREEME                  
                               NT                
                      3x6      6x9      9x12     3M
                                                 interba
                                                 nk
 Czech Rep               2.13     2.03     1.92     2.16
            <PRIBOR=                             
            >                                    
 Hungary                 0.30     0.33     0.38     0.26
                                                 
 Poland                  1.73     1.71     1.68     1.72
                                                 
 Note: FRA  are for ask                                 
 quotes     prices                               
 ********************************************           
 
 (Reporting by Luiza Ilie, Krisztina Than, Anna
Włodarczak-Semczuk; Editing by William Maclean)
  
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