CEE MARKETS-Zloty around its lowest since early 2024 as FX on back foot
PRAGUE, Oct 27 (Reuters) - The Polish zloty stabilised on Tuesday off its lowest levels since the start of 2024, as currencies in central Europe continued to get caught in the US dollar's wake.
Other currencies in the region were also licking their wounds, with Hungary's forint hovering off a three-week low and the Czech crown back at levels last seen in mid-October
US dollar strength has continued to bite, cutting appetite for risk
"In our view, the Polish zloty will remain primarily influenced by global factors on Tuesday, with oil prices and risk appetite being the key drivers," Polish bank PKO said. "We anticipate limited room for further gains in the EUR/PLN pair"
The zloty was 0.1% lower against the euro, at 4.4065, after trading as weak as 4.409 in the previous session; it has fallen from levels around 4.36 since last week, showing its biggest four-day drop since March
In Hungary, the forint inched 0.1% higher to 366.95 to the euro, while the crown was steady at 24.351 per euro after swinging from a five-week high of 24.252 last week
Hungarian brokerage Equilor said a rising natural gas price was also weighing on currencies in the region
"At 367.20, the important resistance (for EUR/HUF) is stretching, and if it breaks through, the 369.50-370.00 zone may be targeted," Equilor said
The forint has been an outperformer this year, helped by a shift in government to an administration aiming for euro adoption in the coming years
Fitch ratings agency said it expected euro adoption in 2032 at the earliest, and that the move would be positive for Hungary's ratings
CEE MARKETS SNAPSHOT AT 1048 CET | |||||
CURRENCIES | Latest trade | Previous close | Daily change | Change in 2026 | |
Czech crown | 24.3510 | 24.3500 | -0.00% | -0.76% | |
Hungary forint | 366.9500 | 367.4000 | +0.12% | +4.75% | |
Polish zloty | 4.4065 | 4.4030 | -0.08% | -4.33% | |
Romanian leu | 5.3490 | 5.3459 | -0.06% | -4.77% | |
Serbian dinar | 117.4000 | 117.5200 | +0.10% | -0.09% | |
Note: daily change calculated from 1800 CET | |||||
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STOCKS | Latest | Previous close | Daily change | Change in 2026 | |
Prague | .PX | 2627.06 | 2598.2400 | +1.11% | -2.18% |
Budapest | .BUX | 145029.29 | 143895.87 | +0.79% | +30.62% |
Warsaw | .WIG20 | 4211.46 | 4198.02 | +0.32% | +32.27% |
Bucharest | .BETI | 34376.42 | 34411.76 | -0.10% | +40.66% |
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BONDS | Yield (bid) | Yield change | Spread vs Bund | Daily change in spread | |
Czech Rep 2-year | 4.4181 | 0.0285 | +136bps | +5bps | |
Czech Rep 5-year | 4.8224 | 0.0016 | +167bps | +2bps | |
Czech Rep 10-year | 5.4065 | 0.0059 | +206bps | +1bps | |
Poland 2-year | 4.7610 | -0.0460 | +171bps | -2bps | |
Poland 5-year | 5.9630 | 0.0080 | +281bps | +3bps | |
Poland 10-year | 6.4310 | 0.0130 | +308bps | +2bps | |
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FORWARD RATE AGREEMENTS | 3x6 | 6x9 | 9x12 | 3M interbank | |
Czech Rep | , | 4.30 | 4.66 | 4.86 | 3.94 |
Poland | , | 4.24 | 4.59 | 4.81 | 3.90 |
Note: FRA quotes are for ask prices | |||||