PRAGUE, April 13 (Reuters) - Central Europe's currencies
retreated on Tuesday, with markets taking a breather after
recent gains, although the Czech crown held steady and again
tested the psychologicial level of 26 per euro after an
inflation pick-up.
With markets pausing and turning attention to U.S. inflation
data for some clues on the dollar's direction, the Hungarian
forint retreated from a two-month high, falling 0.4%. Poland's
zloty dropped 0.65%, also from a multi-week high.
Elsewhere, stock markets mostly gained with Czech utility
CEZ hitting its highest since mid-2015 following a
rally in Polish utilities on Monday.
Markets are betting the Czech central bank will be the first
in central Europe to undo some of the massive loosening
undertaken a year ago when the COVID-19 pandemic first struck.
Markets price in a first rate hike in six months.
Analysts said inflation data from March, showing a pick-up
to a headline rate of 2.3% backed chances of a hike in the
second half of the year.
The crown was flat at 26.032 to the euro by 0910
GMT. It has broken the 26 level twice this year.
In Hungary, the forint dropped to 358.52, which a
trader called a "healthy correction" after steady gains in the
past weeks moving it away from near historic lows seen in March.
Currencies in central Europe - one of the worst-hit regions
in the world by the pandemic in the past few months - are
struggling to return to the firming path that analysts forecast
them to take as economies start to recover.
The pandemic is still weighing on the region and U.S. dollar
strength has also sapped some appetite for riskier assets.
On stock markets on Tuesday, Prague and Budapest
tracked a rise of global stocks.
CEZ hit 600 crowns a share for the first time since July
2015, boosted by higher wholesale power prices, expectations of
an extraordinary dividend and tracking a jump in Polish peers.
Polish utilities soared on Monday on a report of an upcoming
curve-out of their coal assets.
CEE SNAPSHO AT
MARKETS T 1110
CET
CURRENC
IES
Latest Previou Daily Change
s
bid close change in 2021
EURCZK Czech <EURCZK 26.0320 26.0310 -0.00% +0.76%
= crown =>
EURHUF Hungary <EURHUF 358.520 357.135 -0.39% +1.17%
= forint => 0 0
EURPLN Polish <EURPLN 4.5650 4.5354 -0.65% -0.13%
= zloty =>
EURRON Romanian <EURRON 4.9215 4.9207 -0.02% -1.15%
= leu =>
EURHRK Croatian <EURHRK 7.5649 7.5665 +0.02% -0.23%
= kuna =>
EURRSD Serbian <EURRSD 117.450 117.550 +0.09% +0.10%
= dinar => 0 0
Note: calcula 1800
daily ted CET
change from STOCKS
Latest Previou Daily Change
s
close change in 2021
.PX Prague 1107.43 1096.47 +1.00% +7.82%
00
.BUX Budapest 43478.3 43267.2 +0.49% +3.26%
3 5
.WIG20 Warsaw <.WIG20 1981.37 1982.58 -0.06% -0.13%
>
.BETI Buchares 11209.5 11224.0 -0.13% +14.32
t 3 8 %
.SBITO Ljubljan <.SBITO 1024.82 1018.90 +0.58% +13.76
P a P> %
.CRBEX Zagreb <.CRBEX 1882.76 1882.17 +0.03% +8.25%
>
.BELEX Belgrade <.BELEX 758.97 756.13 +0.38% +1.38%
15 15>
.SOFIX Sofia <.SOFIX 507.30 507.86 -0.11% +13.36
> %
BONDS
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
CZ2YT= 2-year <CZ2YT= 0.6740 -0.0070 +138bp +0bps
RR RR> s
CZ5YT= 5-year <CZ5YT= 1.4470 -0.0670 +207bp -7bps
RR RR> s
CZ10YT <CZ10YT 1.8910 -0.0420 +217bp -5bps
=RR 10-year =RR> s
Poland
PL2YT= 2-year <PL2YT= 0.0910 -0.0200 +080bp -2bps
RR RR> s
PL5YT= 5-year <PL5YT= 0.8190 -0.0390 +144bp -4bps
RR RR> s
PL10YT <PL10YT 1.5250 -0.0250 +181bp -4bps
=RR 10-year =RR> s
FRA
3x6 6x9 9x12 3M
interba
nk
Czech <CZKFRA 0.46 0.65 0.91 0.36
Rep ><PRIBO
R=>
Hungary <HUFFRA 0.99 1.21 1.41 0.79
><BUBOR
=>
Poland <PLNFRA 0.27 0.30 0.35 0.21
><WIBOR
=>
Note: FRA quotes
are for ask
prices
***********************************
***************************
(Reporting by Jason Hovet in Prague and Anita Komuves in
Budapest; Editing by Krishna Chandra Eluri)
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