Edition:
United Kingdom

Alan Charlish

On the EU's eastern border, seeking refuge is harder for some

26 Oct 2020

WARSAW Poland has made it easier for Belarusians fleeing political persecution to enter, but for Seda Yunusova, a Chechen who was refused the opportunity to apply for asylum 16 times in 2016 and 2017, this is little comfort.

Small weddings yes, but no dancing: Poland faces new COVID curbs

15 Oct 2020

WARSAW The Polish government urged its citizens to stay at home and ordered new national restrictions such as closing gyms, pools and aquaparks, after coronavirus cases rose by 24% to a record on Thursday.

Czech crown seen leading gains as CEE FX rebounds from virus - Reuters poll

02 Oct 2020

WARSAW The Czech crown <EURCZK=> looks set to lead the charge as central and eastern European currencies bounce back over the next 12 months from recent losses on hopes of improvement in the global pandemic situation, a Reuters poll found.

Poland's government heads further to the right in new lineup

30 Sep 2020

WARSAW Poland's ruling nationalists appeared to have taken a turn further to the right on Wednesday with the appointment of an ultra-conservative education chief in a new cabinet lineup, raising the prospect of new friction with the European Union.

CEE MARKETS-Dollar weakness gives currencies a boost

01 Sep 2020

By Alan Charlish WARSAW, Sept 1 Central European currencies firmed on Tuesday, as FX markets paid little attention to regional manufacturing surveys and focused on the weakening dollar instead. The dollar has been hit by fears about the pace of economic recovery and uncertainty ahead of the U.S. presidential election in November. The Federal Reserve's new approach to focus more on average inflation and higher employment has also encouraged traders to sell the greenback. "EUR/USD is close to 1.20, but other risky currencies are also benefiting from the outflow of capital from the safe haven of dollars," Konrad Bialas, chief economist at DM TMS Brokers, said in a note. "The appetite for risk reigns supreme." At 0923 GMT the Czech crown was 0.27% stronger against the euro at 26.192, the Hungarian forint was 0.11% firmer at 355.15 and the Polish zloty was 0.09% firmer at 4.392. The Romanian leu leu was little changed at 4.8395. In Prague, a dealer said the gains were mainly a correction from end-of-month weakening. PMI data showed a mixed picture of the region's recovery, with Czech manufacturing sentiment improving more than expected but remaining in contraction, while in Hungary, the PMI rose, with most components of the business survey showing modest increases. In Poland the reading showed the recovery in the country's manufacturing sector slowing. "We had PMI data, lower than the market expected but so far the impact on the zloty was limited," said a Warsaw-based currency trader. Polish 10-year yields fell just over 1 basis point to 1.381%. On Monday, the Polish Finance Ministry announced that it will hold two switch tenders in September, at which it will buy back bonds due in 2020 and 2021. "This shows that in a situation of high overliquidity (the Ministry of Finance has accumulated 125 billion zlotys on the central account), the priority will be to pre-finance next year's borrowing needs," PKO BP analysts said in a note. In the Czech Republic, 10-year yields were little changed at 1.113%. Stocks were lower, in contrast to the broader European market which posted gains, with the Stoxx 600 rising around 0.2%. At 0923 GMT the main index in Budapest was down 0.45% and Warsaw's WIG 20 was down 0.73%. "Since yesterday, and in fact since last week, our stock market is significantly weaker than foreign markets, especially core markets," said Bartosz Kulesza, an analyst at Pekao in Warsaw, adding that Tuesday's lower-than-expected Polish PMI could be a factor. CEE SNAPSHO AT MARKETS T 1123 CET CURRENC IES Latest Previou Daily Change s bid close change in 2020 EURCZK Czech <EURCZK 26.1920 26.2630 +0.27% -2.90% = crown => EURHUF Hungary <EURHUF 355.150 355.530 +0.11% -6.76% = forint => 0 0 EURPLN Polish <EURPLN 4.3920 4.3958 +0.09% -3.09% = zloty => EURRON Romanian <EURRON 4.8395 4.8392 -0.01% -1.06% = leu => EURHRK Croatian <EURHRK 7.5280 7.5285 +0.01% -1.10% = kuna => EURRSD Serbian <EURRSD 117.500 117.600 +0.09% +0.06% = dinar => 0 0 Note: calculated from 1800 daily CET change STOCKS Latest Previou Daily Change s close change in 2020 .PX Prague 903.85 903.490 +0.04% -18.98% 0 .BUX Budapest 34694.2 34851.2 -0.45% -24.71% 6 9 .WIG20 Warsaw <.WIG20 1787.04 1800.21 -0.73% -16.89% > .BETI Buchares 9008.98 8997.28 +0.13% -9.71% t .SBITO Ljubljan <.SBITO 846.38 848.89 -0.30% -8.58% P a P> .CRBEX Zagreb <.CRBEX 1623.13 1617.09 +0.37% -19.54% > .BELEX Belgrade <.BELEX 690.70 693.80 -0.45% -13.84% 15 15> .SOFIX Sofia <.SOFIX 434.49 434.21 +0.06% -23.52% > BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT= 2-year <CZ2YT= 0.1510 -0.0200 +080bp -3bps RR RR> s CZ5YT= 5-year <CZ5YT= 0.6880 -0.0450 +131bp -6bps RR RR> s CZ10YT <CZ10YT 1.1130 0.0020 +149bp -2bps =RR 10-year =RR> s Poland PL2YT= 2-year <PL2YT= 0.1480 0.0000 +080bp -1bps RR RR> s PL5YT= 5-year <PL5YT= 0.7400 -0.0150 +136bp -3bps RR RR> s PL10YT <PL10YT 1.3810 -0.0110 +176bp -3bps =RR 10-year =RR> s FRA 3x6 6x9 9x12 3M interba nk Czech <CZKFRA 0.37 0.39 0.43 0.34 Rep ><PRIBO R=> Hungary <HUFFRA 0.79 0.87 0.93 0.62 ><BUBOR => Poland <PLNFRA 0.24 0.24 0.25 0.23 ><WIBOR => Note: FRA quotes are for ask prices ******************************************** ****************** For related news and prices, click on the codes in brackets: All emerging market news Spot FX rates Eastern Europe spot FX Middle East spot FX Asia spot FX Latin America spot FX Other news and reports World central bank news Economic Data Guide Official rates Emerging Diary Top events Diaries Diaries Index (Reporting by Alan Charlish in Warsaw and Jason Hovet in Prague; Editing by Ramakrishnan M.)

Exiled news service started by teen blogger becomes big source of Belarus news

28 Aug 2020

WARSAW It started five years ago with a music video uploaded by a teenage blogger on YouTube.

RPT-Exiled news service started by teen blogger becomes big source of Belarus news

28 Aug 2020

WARSAW, Aug 28 It started five years ago with a music video uploaded by a teenage blogger on YouTube.

Exiled news service started by teen blogger becomes big source of Belarus news

28 Aug 2020

WARSAW It started five years ago with a music video uploaded by a teenage blogger on YouTube.

CEE MARKETS-Polish zloty weakens on concerns of rising coronavirus infections

21 Aug 2020

By Alan Charlish WARSAW, Aug 21 The Polish zloty slipped on Friday, as a fresh record number of daily coronavirus cases added to worries about the toll the pandemic is taking on the global economy. Poland reported 903 new daily cases of the coronavirus on Friday, a record that came just two days after the U.S. Federal Reserve spooked global markets with minutes that showed doubts about the U.S. economic recovery. "The overall sentiment right now is not so optimistic due to the evolution of the pandemic in Europe," said Mateusz Sutowicz, a financial market analyst at Bank Millennium. At 0940 GMT, the Polish zloty was 0.16% weaker against the euro at 4.3913. The Hungarian forint dipped 0.24% to 349.88 in thin trade, as the local market was closed for a holiday. The Czech crown and Romanian leu were broadly flat at 26.05 and 4.84, respectively. Benchmark Polish 10-year yields fell almost 3 basis points to 1.324% On Thursday, Poland's government accepted an amended 2020 budget with a deficit of 109.3 billion zlotys. Before the pandemic struck it had been planning to have the first balanced budget in three decades in 2020. "Recently, the ministry of finance has not carried out regular bond auctions due to the record amount of funds accumulated in budgetary accounts, but the increase in borrowing needs may cause them to appear in the calendar in the coming months...," PKO BP analysts said in a note. "Such an arrangement should support the maintenance of 10-year bonds close to 1.35% in the coming weeks." Czech 10-year yields fell just over 2 basis points to 0.987%. Stocks were higher, in line with other European markets which had shrugged off negative French, German and euro zone PMI data. In Prague, the PX index was up 0.98% and Warsaw's WIG 20 index gained 0.46%. CEE SNAPSHO AT MARKETS T 1140 CET CURRENC IES Latest Previou Daily Change s bid close change in 2020 Czech <EURCZK= 26.0500 26.0500 +0.00% -2.37% crown > Hungary <EURHUF= 349.880 349.050 -0.24% -5.35% forint > 0 0 Polish <EURPLN= 4.3913 4.3844 -0.16% -3.07% zloty > Romanian <EURRON= 4.8400 4.8395 -0.01% -1.07% leu > Croatian <EURHRK= 7.5230 7.5270 +0.05% -1.03% kuna > Serbian <EURRSD= 117.500 117.600 +0.09% +0.06% dinar > 0 0 Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2020 Prague 897.68 889.010 +0.98% -19.54% 0 Budapest 36043.5 36043.5 +0.00% -21.79% 6 6 Warsaw 1823.42 1815.03 +0.46% -15.19% Buchares 8690.73 8702.02 -0.13% -12.89% t Ljubljan <.SBITOP 863.36 861.98 +0.16% -6.75% a > Zagreb 1597.26 1595.94 +0.08% -20.83% Belgrade <.BELEX1 673.04 680.10 -1.04% -16.05% 5> Sofia 436.71 435.81 +0.21% -23.13% Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=R 0.1330 0.0080 +082bp +2bps R> s 5-year <CZ5YT=R 0.6400 -0.0640 +135bp -5bps R> s <CZ10YT= 0.9870 -0.0220 +150bp -1bps 10-year RR> s Poland 2-year <PL2YT=R 0.1560 -0.0080 +084bp +0bps R> s 5-year <PL5YT=R 0.7210 -0.0370 +143bp -2bps R> s <PL10YT= 1.3240 -0.0270 +183bp -1bps 10-year RR> s FORWARD 3x6 6x9 9x12 3M interba nk Czech 0.33 0.33 0.41 0.34 Rep <PRIBOR= > Hungary 0.78 0.83 0.88 0.61 Poland 0.22 0.23 0.24 0.23 Note: are for ask FRA prices quotes ********************************************* ***************** For related news and prices, click on the codes in brackets: All emerging market news Spot FX rates Eastern Europe spot FX Middle East spot FX Asia spot FX Latin America spot FX Other news and reports World central bank news Economic Data Guide Official rates Emerging Diary Top events Diaries Diaries Index (Reporting by Alan Charlish in Warsaw, Robert Muller in Prague, Radu-Sorin Marinas and Luiza Ilie in Bucharest; Editing by Amy Caren Daniel)

Poland appoints new foreign and health ministers

20 Aug 2020

WARSAW Poland has appointed Zbigniew Rau, the chair of the parliamentary foreign affairs committee, to the post of foreign minister, as Warsaw seeks to play a leading role in the EU response to a political crisis in neighbouring Belarus.

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