"I think we will remain in the 386-395 range versus the euro over the next one or two weeks unless there is a major development. Over the longer term, I think the forint is more prone towards weakening." The Czech crown was little changed on the day at 23.8460 per euro ahead of a Czech central bank meeting on Thursday. Analysts expect the bank to keep the main rate steady at 7.00% a fifth month in a row.
The Fed will set interest rates on Wednesday, followed by the European Central Bank (ECB) on Thursday. The Polish zloty was slightly weaker at 4.7130 per euro. The market is waiting for information from the finance ministry on debt supply for February. Romanian debt managers are also expected to announce their domestic issuance plans for next month.
On Monday, they tapped 2 billion euros ($2.16 billion) worth of Eurobonds, their second outing on foreign markets this year after they sold $4 billion worth of 5-, 10- and 30-year bonds on Jan. 5.
Romania has also sold five times more domestic debt than planned in January, with tenders oversubscribed and yields buoyed by a central bank rate hike. The Romanian leu weakened on Tuesday by 0.17% to 4.9200 per euro.
Central European stock markets were mixed, with Warsaw and Budapest down 0.2% and 0.3%, respectively, and Bucharest up 0.3%.
Prague was litle changed on Tuesday but it is on course for its best month since November 2020, driven higher mainly by a rise in CEZ shares, as the majority state-owned utility has its best month since 2005, driven by expectations of a potential restructuring of the group. CEE SNAPSHOT AT
MARKETS 1020
CET
CURRENCI
ES
Latest Previou Daily Change s
bid close change in 2023
EURCZK Czech <EURCZK 23.8460 23.8400 -0.03% +1.31%
= crown =>
EURHUF Hungary <EURHUF 389.3500 389.500 +0.04% +2.59%
= forint => 0
EURPLN Polish <EURPLN 4.7130 4.7095 -0.07% -0.50%
= zloty =>
EURRON Romanian <EURRON 4.9200 4.9115 -0.17% +0.46%
= leu =>
EURHRK Croatian <EURHRK 7.5330 7.5365 +0.05% +0.05%
= kuna =>
EURRSD Serbian <EURRSD 117.3200 117.370 +0.04% -0.02%
= dinar => 0
Note: calculated from 1800
daily CET
change
Latest Previou Daily Change s
close change in 2023
.PX Prague 1332.03 1331.30 +0.05% +10.84
00 %
.BUX Budapest 45496.39 45642.3 -0.32% +3.89%
2
.WIG20 Warsaw <.WIG20 1886.18 1889.82 -0.19% +5.25%
>
.BETI Buchares 12161.74 12123.7 +0.31% +4.27%
t 1
.SBITO Ljubljan <.SBITO 1123.78 1120.28 +0.31% +7.15%
P a P>
.CRBEX Zagreb <.CRBEX 2116.37 2115.20 +0.06% +705.4
> 1%
.BELEX Belgrade <.BELEX 854.61 854.89 -0.03% +3.64%
15 15>
.SOFIX Sofia <.SOFIX 614.69 614.77 -0.01% +2.19%
>
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
CZ2YT= 2-year <CZ2YT= 5.7130 -0.2020 +306bp -18bps
RR RR> s
CZ5YT= 5-year <CZ5YT= 5.0100 -0.0250 +270bp +0bps
RR RR> s
CZ10YT <CZ10YT 4.6310 -0.0310 +234bp -1bps
=RR 10-year =RR> s
Poland
PL2YT= 2-year <PL2YT= 6.0030 0.0070 +335bp +3bps
RR RR> s
PL5YT= 5-year <PL5YT= 5.9590 0.0570 +365bp +9bps
RR RR> s
PL10YT <PL10YT 5.9740 0.0560 +369bp +8bps
=RR 10-year =RR> s
FORWARD
3x6 6x9 9x12 3M interba nk Czech <CZKFRA 7.17 6.93 6.44 7.21 Rep ><PRIBO
R=>
Hungary <HUFFRA 14.76 13.02 11.14 16.04 ><BUBOR
=>
Poland <PLNFRA 6.96 6.87 6.47 6.95 ><WIBOR
=>
Note: are for ask
FRA prices
quotes
*********************************************
*****************
($1 = 0.9241 euros)
(Reporting by Anna Wlodarczak-Semczuk in Warsaw, Luiza Ilie in
Bucharest, Jason Hovet in Prague, Gergely Szakacs in Budapest;
Editing by Rashmi Aich)
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