CEE MARKETS-Markets eye Ukraine-Russia talks, forint slides in correction

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By Anita Komuves

BUDAPEST, March 16 (Reuters)Most central European currencies held on to latest features on Wednesday as information of continued talks between Ukraine and Russia lifted market sentiment, whereas the Hungarian forint slid in a transfer that merchants referred to as a correction of latest features.

Russia stated on Wednesday that peace talks with Ukraine weren’t straightforward however that there was some hope of reaching a compromise, whereas Ukrainian President Volodymyr Zelenskiy stated peace talks had been sounding extra “practical”.

“The forint firmed prior to now two days within the optimistic temper, however now that native markets have re-opened after the vacation, some buyers are taking earnings or closing positions, which may halt the strengthening,” an FX dealer in Budapest stated.

Markets in Hungary reopened on Wednesday after being closed for a nationwide vacation on Monday and Tuesday.

The Hungarian forint EURHUF= slid 0.29% on Wednesday and was buying and selling at 372.49 per euro, greater than 7% above an historic low of 400 per euro that it hit on March 7.

Central Europe has been hit arduous by a worldwide flight to safer property following Russia’s invasion of Ukraine on Feb. 24, however this week markets had been progressively returning to regular after the preliminary turmoil.

Elsewhere, the Czech crown EURCZK= edged up 0.12% and was buying and selling at 24.745 per euro. The Polish zloty EURPLN= was flat.

Traders are additionally eyeing the U.S. Federal Reserve, which concludes a two-day assembly later within the day and is predicted to ship its first fee enhance in three years, and doubtless the primary in a collection of hikes to assist tame inflation.

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“We anticipate that any disappointment felt by some extra aggressive buyers with a 25 foundation level hike (in the USA) may present further help for rising market forex valuations,” Financial institution Millennium wrote in a be aware.

Most shares within the area firmed, with Warsaw .WIG20 main features and including 2.63%. Budapest .BUX gained 0.89% whereas Bucharest .BETI was 1.42% increased. Prague .PX bucked the pattern and slid 1.02%.

CEE MARKETS

SNAPSHOT

AT 1032 CET

CURRENCIES

Newest

Earlier

Every day

Change

bid

shut

change

in 2022

EURCZK=

Czech crown

EURCZK=

24.7450

24.7750

+0.12%

+0.51%

EURHUF=

Hungary forint

EURHUF=

372.4900

371.4000

-0.29%

-0.83%

EURPLN=

Polish zloty

EURPLN=

4.7080

4.7080

+0.00%

-2.49%

EURRON=

Romanian leu

EURRON=

4.9480

4.9488

+0.02%

+0.00%

EURHRK=

Croatian kuna

EURHRK=

7.5690

7.5755

+0.09%

-0.68%

EURRSD=

Serbian dinar

EURRSD=

117.6200

117.6500

+0.03%

-0.03%

Observe: day by day change

calculated from

1800 CET

Newest

Earlier

Every day

Change

shut

change

in 2022

.PX

Prague

.PX

1288.87

1302.1900

-1.02%

.BUX

Budapest

.BUX

43287.58

42905.55

+0.89%

-14.66%

.WIG20

Warsaw

.WIG20

2052.61

1999.93

+2.63%

-9.45%

.BETI

Bucharest

.BETI

12492.64

12317.26

+1.42%

-4.35%

.SBITOP

Ljubljana

.SBITOP

1110.92

1089.33

+1.98%

-11.51%

.CRBEX

Zagreb

.CRBEX

2014.59

1998.88

+0.79%

-3.11%

.BELEX15

Belgrade

.BELEX15

813.51

815.89

-0.29%

-0.89%

.SOFIX

Sofia

.SOFIX

591.51

590.38

+0.19%

-6.95%

Yield

Yield

Unfold

Every day

(bid)

change

vs Bund

change in

Czech Republic

unfold

CZ2YT=RR

2-year

CZ2YT=RR

4.8530

-0.0970

+522bps

-15bps

CZ5YT=RR

5-year

CZ5YT=RR

4.1270

0.0640

+405bps

+1bps

CZ10YT=RR

10-year

CZ10YT=RR

3.7720

0.0610

+340bps

+2bps

Poland

PL2YT=RR

2-year

PL2YT=RR

5.3820

-0.0540

+575bps

-11bps

PL5YT=RR

5-year

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PL5YT=RR

5.3230

0.0000

+525bps

-5bps

PL10YT=RR

10-year

PL10YT=RR

4.8540

-0.1050

+448bps

-15bps

FORWARD

3×6

6×9

9×12

3M interbank

Czech Rep

CZKFRAPRIBOR=

4.96

4.96

4.72

4.83

Hungary

HUFFRABUBOR=

7.89

7.86

7.71

6.20

Poland

PLNFRAWIBOR=

5.74

5.81

5.81

4.33

Observe: FRA quotes

are for ask costs

**************************************************************

(Extra reporting by Alan Charlish in Warsaw Modifying by Gareth Jones)

((komuves.anita@thomsonreuters.com)(+36 70 795 8815))

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.

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