Hindi nagbibigay ng serbisyo ang XM sa mga residente ng Estados Unidos.

Weak forint steadies ahead of expected interest rate cut



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CEE MARKETS-Weak forint steadies ahead of expected interest rate cut</title></head><body>

WARSAW, June 18 (Reuters) -The forint held steady on Tuesday away from a three-month low it hit last week, ahead of the Hungarian central bank's meeting that is widely expected to result in a continued rate-cut drive.

The National Bank of Hungary (NBH), which began easing its base interest rate in October, is expected to trim a further 25 basis points off the current 7.25% on Tuesday, according to a slim majority of respondents in Reuters poll, while the rest forecast a 50 basis point cut.

By 0846 GMT the Hungarian forint EURHUF= was flat at 396 per euro, holding on to Monday's gains which saw it pulling away from its weakest level since mid March at the end of last week.

"Today the focus is on the NBH interest rate decision, until then it (EURHUF) may remain on the sidelines," MBH Bank said in a note.

"In our view, with the forint weakening again more strongly in recent days and the Fed's expected rate cut postponed, the MNB will be cautious and will only cut rates by 25bps."

Monday's session gave some respite to the region's currencies, after the strengthening of the dollar this month, supported last week by a more hawkish U.S. Federal Reserve and the fallout of European Parliament elections that pressured riskier assets, including Central European currencies.

The Polish zloty EURPLN= slipped 0.1% against the euro to 4.3480, also largely keeping the previous day's gains after hitting its weakest level since late January on Friday.

"Yesterday's trading on the local FX suggests that the domestic currency (zloty) should now be less sensitive to negative external signals," Poland's state-owned development bank BGK wrote in a note.

"Today, we expect a relatively calm session in the range of PLN 4.34-4.36 per euro."

The Czech crown traded 0.1% lower at 24.7450, remaining anchored around stronger levels, with market focus turned toward the Czech central bank rate meeting next week at which policymakers are expected to slow rate cuts.

Czech central bank Vice-Governor Eva Zamrazilova said in a Reuters interview on Monday that she would decide between a 25 bps and 50 bps interest rate cut, after assessing the effects of a firmer crown versus still strong growth in services prices.

CSOB said the crown was staying stuck around the 24.70 per euro level.

"Producer price data released (on Monday) did not surprise and generally confirmed the disinflationary tendencies in the domestic economy," CSOB said.

"This is good news for the central bank towards further easing of monetary policy... Uncertainty about the June vote is high, but we still cautiously lean toward a 25 bp rate cut."


CEE MARKETS

SNAPSHOT

AT 1046 CET





CURRENCIES






Latest

Previous

Daily

Change



bid

close

change

in 2024

Czech crown

EURCZK=

24.7450

24.7300

-0.06%

-0.18%

Hungary forint

EURHUF=

396.0000

396.0500

+0.01%

-3.24%

Polish zloty

EURPLN=

4.3480

4.3535

+0.13%

-0.08%

Romanian leu

EURRON=

4.9771

4.9770

-0.00%

-0.06%







Note: daily change

calculated from



1800 CET










Latest

Previous

Daily

Change




close

change

in 2024

Prague

.PX

1527.10

1521.8400

+0.35%

+8.00%

Budapest

.BUX

69851.62

69711.91

+0.20%

+15.23%

Warsaw

.WIG20

2479.20

2458.79

+0.83%

+5.81%

Bucharest

.BETI

17940.30

17879.99

+0.34%

+16.71%











Spread

Daily





vs Bund

change in

Czech Republic





spread

2-year

CZ2YT=RR

4.1470

0.0190

+130bps

-2bps

5-year

CZ5YT=RR

4.1320

-0.0010

+168bps

-3bps

10-year

CZ10YT=RR

4.2190

0.0070

+179bps

-1bps

Poland






2-year

PL2YT=RR

5.2330

-0.0110

+239bps

-5bps

5-year

PL5YT=RR

5.6230

-0.0100

+317bps

-4bps

10-year

PL10YT=RR

5.7770

-0.0030

+334bps

-2bps

Note: FRA quotes

are for ask prices





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







Reporting by Karol Badohal in Warsaw and Boldizsar Gyori in Budapest; Editing by Shinjini Ganguli

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
</body></html>

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.