CEE MARKETS-Currencies, stocks ease, with eyes on ECB stimulus moves
BUCHAREST, June 4 (Reuters) - Central European currencies
fell on Thursday, with the crown and zloty leading regional
losses, as investors focused on the European Central Bank's
policy meeting, which is expected to approve more aid to the
coronavirus-hit euro zone.
The economic crisis caused by the new virus pandemic had
hammered currencies in the region, which is the main trading
partner of the euro zone, but a new risk-on mood has partly
helped them to recoup a significant part of their losses.
By 0910 GMT, the Czech crown and the Polish zloty
fell by 0.6% on the day to as low as 26.73 and 4.44
against the euro respectively.
Czech National Bank Governor Jiri Rusnok said in a radio
interview on Thursday the crown was likely to stabilise around
current levels it reached after recent strengthening.
Hungary's forint eased 0.2% and the Romanian leu
edged down 0.1%.
Market watchers expect the ECB to increase bond purchases by
500 billion euros, but a key question is whether it will act on
Thursday or hold out until July as a deal on European Union-wide
fiscal support strengthens the case for patience.
"Trade is pretty sluggish right now. The general focus is
now on the ECB's next policy moves and their timing," said one
dealer in Bucharest.
Stocks also fell, with Budapest's leading losses with
a 0.9% decline. MOL and OTP Bank fell 1.74%
and 3.16% respectively.
Elsewhere, Romania's finance ministry plans to sell 700
million lei worth of 2027 treasury bonds and an additional 500
million lei of 2023 debt.
CEE SNAPSHOT AT
MARKETS 1129 CET
CURRENCIES
Latest Previous Daily Change
bid close change in 2020
Czech 26.7300 26.5510 -0.67% -4.86%
crown
Hungary 345.5500 344.8000 -0.22% -4.17%
forint
Polish 4.4430 4.4100 -0.74% -4.20%
zloty
Romanian 4.8370 4.8315 -0.11% -1.01%
leu
Croatian 7.5720 7.5715 -0.01% -1.67%
kuna
Serbian 117.6100 117.6200 +0.01% -0.03%
dinar
Note: calculated from 1800 CET
daily
change
Latest Previous Daily Change
close change in 2020
Prague 932.89 927.5300 +0.58% -16.38%
Budapest 36937.69 37317.04 -1.02% -19.84%
Warsaw 1758.90 1766.85 -0.45% -18.19%
Bucharest 8927.32 8981.80 -0.61% -10.52%
Ljubljana 861.34 860.56 +0.09% -6.97%
Zagreb 1669.26 1673.45 -0.25% -17.26%
Belgrade <.BELEX15 676.28 678.37 -0.31% -15.64%
>
Sofia 456.92 458.87 -0.42% -19.58%
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
2-year <CZ2YT=RR 0.1000 0.0570 +072bps +4bps
>
5-year <CZ5YT=RR 0.3870 0.0240 +097bps +3bps
>
10-year <CZ10YT=R 0.7840 0.0700 +114bps +8bps
R>
Poland
2-year <PL2YT=RR 0.2260 -0.0140 +085bps -3bps
>
5-year <PL5YT=RR 0.7810 0.0170 +136bps +3bps
>
10-year <PL10YT=R 1.3810 0.0250 +174bps +3bps
R>
FORWARD
3x6 6x9 9x12 3M
interban
k
Czech Rep < 0.27 0.28 0.30 0.34
PRIBOR=>
Hungary < 0.78 0.73 0.68 0.90
BUBOR=>
Poland < 0.26 0.28 0.30 0.27
WIBOR=>
Note: FRA are for ask prices
quotes
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(Editing by Larry King)
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