By Boldizsar Gyori BUDAPEST, Sept 5 (Reuters) - Hungary's forint led losses in central Europe on Tuesday as markets shifted away from risk, while the Polish zloty eased ahead of a central bank rate decision this week. The forint lost nearly 1% in morning trade before cutting some losses, trading at 385.3 versus the euro at 0827 GMT, down 0.7% on the day. "The forint is tracking worse sentiment globally," a Budapest trader said. "As for domestic factors, apart from the high interest rates (in Hungary) I cannot see anything else that would be positive right now," the trader said, adding high carry for the currency would continue to buoy it in a wide range. Weak Chinese service sector data on Tuesday rekindled worries over China's sputtering post-pandemic economy, hitting the global mood. Central Europe's stocks followed global peers lower. Central bank policy in the region is nearing a loosening, but for now, rates remain high following sharp hiking cycles in 2021-2022. The National Bank of Hungary (NBH) was the first in the region to begin an easing cycle by cutting its one-day deposit rate gradually by 100 basis points. The Polish central bank (NBH) will announce a policy decision on Wednesday and a narrow majority in a Reuters poll expect a 25 basis-point cut, despite inflation remaining in double-digits in August. The zloty traded flat at 4.48 versus the euro. "The (EUR/PLN) pair's rate has been consolidating around 4.45-4.48 for two weeks. Yesterday there was a slight increase to around 4.47. Today, waiting for the MPC and impulses from the core markets will continue," Alior Bank said in a note. Elsewhere in the region, the Czech crown traded for 24.143 against the euro, stuck in its recent range. Bank CSOB said improving data this week could give it an impulse. "For the Czech crown there surely isn't a positive environment, with U.S. yields remaining high and the dollar is also remaining strong," CSOB said. CEE SNAPSHO AT MARKETS T 1027 CET CURRENC IES Latest Previou Daily Change s bid close change in 2023 EURCZK= CzechEURHUF= Hungary 0 0 EURPLN= Polish EURRON= Romanian EURRSD= Serbian 0 0 Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2023 .PX Prague 1334.52 1336.39 -0.14% +11.05 00 % .BUX Budapest 55479.7 55663.5 -0.33% +26.68 2 0 % .WIG20 Warsaw 2020.87 2025.59 -0.23% +12.77 % .BETI Buchares 13171.9 13354.1 -1.36% +12.93 t 0 1 % Spread Daily vs Bund change in Czech spread Republic CZ2YT=R 2-year s CZ5YT=R 5-year s CZ10YT= s Poland PL2YT=R 2-year s PL5YT=R 5-year s PL10YT= s FORWARD 3x6 6x9 9x12 3M interba nk Czech 6.88 6.13 5.19 7.10 Rep Hungary 11.25 9.72 8.55 13.19 Poland 5.83 5.10 4.62 6.64 Note: are for ask FRA prices quotes ********************************************* ***************** (Reporting by Anna Wlodarczak-Semczuk in Warsaw, Boldizsar Gyori in Budapest, Robert Muller in Prague; Editing by Jan Harvey and Angus MacSwan)
Delayed 05:26:18 2024-04-26 pm EDT | 5-day change | 1st Jan Change | ||
4.315 PLN | +0.08% | +0.19% | -0.66% |
Apr. 11 | ING Comments on The Euro, Hungary's Forint, Poland's Zloty, Czech's Koruna | MT |
Apr. 09 | ING Comments on The Euro, Sweden's Krona, Poland's Zloty, Hungary's Forint, Czech's Koruna | MT |
Stocks mentioned in the article
Price
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Change
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5d. change
|
Capi.
| ||
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84,534 PTS | +1.19% | +1.73% | - | ||
84,444 PTS | +1.09% | +1.49% | - | ||
2,686 PTS | +0.86% | +2.29% | - | ||
2,479 PTS | +1.31% | +0.61% | - | ||
391.8 HUF | -0.22% | -0.43% | - | ||
366.6 HUF | +0.10% | -0.78% | - | ||
101.8 PLN | +0.20% | -2.02% | 3.28B | ||
25.08 CZK | -0.15% | -0.55% | - | ||
23.49 CZK | +0.30% | -0.75% | - | ||
4.76 CNY | -0.83% | +9.17% | 366M | ||
4.315 PLN | +0.08% | +0.19% | - | ||
4.034 PLN | +0.35% | -0.16% | - | ||
1.249 USD | -0.12% | +0.99% | - | ||
1.168 EUR | +0.17% | +0.62% | - | ||
1.069 USD | -0.32% | +0.37% | - | ||
0.9353 EUR | +0.32% | -0.36% | - | ||
0.731 USD | 0.00% | +0.56% | - | ||
0.6841 EUR | -0.03% | +0.18% | - | ||
0.6108 EUR | +0.49% | +1.41% | - | ||
0.5938 USD | 0.00% | +0.66% | - | ||
0.012 USD | 0.00% | 0.00% | - | ||
0.0112 EUR | 0.00% | -0.88% | - | ||
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