FX up, mirrors euro gains; zloty shrugs off COVID-19 spike By Radu-Sorin Marinas BUCHAREST, Aug 4 (Reuters) – The Polish zloty and the Czechcrown led Central European currency gains on Tuesday, mirroringthe euro’s firming against the dollar, while shrugging off aspike in new coronavirus infections in the region’s biggesteconomy.The euro, which strengthened 5% at the dollar’s expense lastmonth, inched up 0.2% on the day, with analysts predicting afaster economic recovery of the euro zone compared with that ofthe United States.The euro zone is Central Europe’s main trading partner.”Equities in the U.S.yesterday ended up in green, so thatset up the mood for today, and the euro/dollar going higher alsohelps.With euro/dollar going higher the zloty has reallystrengthened,” a Warsaw-based currency trader said.
Poland on Tuesday reported another record daily increase innew cases, with 680 infections, after a spike driven byoutbreaks amongst miners and after public gatherings.
The newrecord comes as Poland considers introducing stricterrestrictions.
By 0950 GMT, the Polish zloty and the Czech crown firmed by 0.45% each to 4.3980 and 26.1750respectively.Hungary’s forint inched up 0.1% at344.67, while the Romanian leu lingered at 4.8350.The Hungarian central bank (NBH) said on Tuesday that itplanned to “jump-start” the green bond market in the country,which will require a range of incentives by the bank and alsoother regulators.All stock indices rose in the region, with Praguerising for a second consecutive session by more than 0.7%.Warsaw and Bucharest’s blue-chip index rose0.5% each, while Budapest was up 0.4%.
CEE SNAPSHOT AT 1140 bid close change in 2020 Czech 26.1850 26.3000 +0.44% -2.88% crown Hungary 344.5000 344.8300 +0.10% -3.88% forint Polish 4.4030 4.4180 +0.34% -3.33% zloty Romanian 4.8340 4.8330 -0.02% -0.95% leu Croatian 7.4680 7.4743 +0.08% -0.30% kuna Serbian 117.5200 117.6200 +0.09% +0.04% dinar Note: calculated from 1800 CET daily Prague 898.58 892.1800 +0.72% -19.46% Budapest 34648.52 34620.25 +0.08% -24.81% Warsaw 1813.93 1804.38 +0.53% -15.63% Bucharest 8472.07 8431.74 +0.48% -15.09% Ljubljana 846.72 844.15 +0.30% -8.55% Zagreb 1579.44 1581.87 -0.15% -21.71% Belgrade 667.18 666.01 +0.18% -16.78% Sofia 436.05 436.59 -0.12% -23.25% Yield Yield Spread Daily (bid) change vs Bund change in 2-year 0.0890 0.0410 +080bps +5bps 5-year 0.3740 -0.0060 +110bps +1bps 10-year Hungary Poland Currency trading on margin involves high risk, and is not suitable for all investors.Trading or investing in crypto currencies carries with it potential risks.Prices of crypto currencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.Crypto currencies are not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or crypto currencies you should carefully consider your investment objectives, level of experience, and risk appetite.Sharenet would like to remind you that the data contained in this website is not necessarily real-time nor accurate.All CFDs (stocks, indexes, futures), Forex and crypto currencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.Therefore Sharenet doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.Sharenet may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.Sharenet Group of Companies are authorised financial services providers.Sharenet Securities FSP#: 28430 | Sharenet Wealth FSP#: 41688 © 2020 SHARENET (PTY) Ltd, Cape Town, South Africa.
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