CEE MARKETS-Hopes for easing trade tensions support currencies
By Pawel Florkiewicz
WARSAW, April 25 (Reuters) - Central European currencies remained at strong levels on Friday, supported by growing optimism in markets that there will be an easing of the trade war and its negative impact on the global economy.
China has granted some exemptions on U.S. imports from its 125% tariffs and is asking businesses to identify goods that could be eligible in the clearest sign yet that Beijing is worried about the economic fallout from its trade war with Washington.
"Therefore, we see a chance for a slight recovery of the zloty during today's session," Bank Millennium analysts wrote in a commentary.
The Polish zloty EURPLN= was little changed against the euro at 4.2690.
"The upward movement on the domestic interest rate market may continue for some time, but the scale of the upward movement will be limited by the expectation of a cut in interest rates at the upcoming meeting in May," Bank Millennium said.
Two members of the Polish Monetary Policy Council raised the possibility of a 50-basis-point rate cut in May in comments published on Thursday, as the dovish signs from the central bank grow stronger.
Both the Hungarian forint EURHUF= and the Czech crown EURCZK= appreciated on Thursday, with the crown hitting its strongest level in three weeks. On Friday, the forint lost 0.09% to 406.9 per euro, while the crown remained at 24.955 per euro.
The crown has been gaining support from a better global mood as well as bets the Czech National Bank will continue to hold interest rates unchanged as inflationary risks, including from trade wars, persist.
"The end of the week on the CEE currency market looks calm, considering at least the rather modest calendar of macroeconomic publications," ING analysts said.
CEE MARKETS SNAPSHOT AT 1042 CET | |||||
CURRENCIES | Latest trade | Previous close | Daily change | Change in 2025 | |
Czech crown | EURCZK= | 24.9550 | 24.9550 | +0.00% | +1.02% |
Hungary forint | EURHUF= | 406.9000 | 406.5500 | -0.09% | +1.11% |
Polish zloty | EURPLN= | 4.2690 | 4.2685 | -0.01% | +0.18% |
Romanian leu | EURRON= | 4.9776 | 4.9766 | -0.02% | -0.02% |
Serbian dinar | EURRSD= | 117.1800 | 117.2600 | +0.07% | -0.20% |
Note: daily change calculated from 1800 CET | |||||
| |||||
STOCKS | Latest | Previous close | Daily change | Change in 2025 | |
Prague | .PX | 2084.79 | 2075.2900 | +0.46% | +18.44% |
Budapest | .BUX | 92765.69 | 91147.31 | +1.78% | +16.94% |
Warsaw | .WIG20 | 2798.35 | 2797.29 | +0.04% | +27.66% |
Bucharest | .BETI | 17415.49 | 17374.77 | +0.23% | +4.15% |
| |||||
BONDS | Yield (bid) | Yield change | Spread vs Bund | Daily change in spread | |
Czech Rep 2-year | CZ2YT=RR | 3.2890 | -0.0070 | +157bps | -4bps |
Czech Rep 5-year | CZ5YT=RR | 3.5720 | -0.0030 | +156bps | -3bps |
Czech Rep 10-year | CZ10YT=RR | 4.1020 | 0.0490 | +164bps | +3bps |
Poland 2-year | PL2YT=RR | 4.3760 | 0.0270 | +265bps | -1bps |
Poland 5-year | PL5YT=RR | 4.7420 | -0.0260 | +273bps | -5bps |
Poland 10-year | PL10YT=RR | 5.3030 | -0.0220 | +284bps | -4bps |
| |||||
FORWARD RATE AGREEMENTS | 3x6 | 6x9 | 9x12 | 3M interbank | |
Czech Rep | CZKFRA, PRIBOR= | 3.45 | 3.22 | 3.08 | 3.66 |
Hungary | HUFFRA, BUBOR= | 6.55 | 6.23 | 5.83 | 6.50 |
Poland | PLNFRA, WIBOR= | 4.47 | 4.10 | 3.82 | 5.45 |
Note: FRA quotes are for ask prices | |||||
For related news and prices, click on the codes in brackets: All emerging market news EMRG CEEU CEE/ Spot FX rates Eastern Europe spot FX EEFX= Middle East spot FX MEFX= Asia spot FX ASIAFX= Latin America spot FX LATAMFX= Other news and reports World central bank news CEN Economic Data Guide ECONGUIDE Official rates GLOBAL/INT Emerging Diary EMRG/DIARY Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY
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