Hungarian forint hovers around 2-month high, inflation data in focus



By Anita Komuves

BUDAPEST, April 12 (Reuters) - The Hungarian forint and the Polish zloty extended gains on Monday, as supportive global sentiment helped regional currencies while markets turned their attention to the U.S. and central European inflation data due to be published this week.

The Hungarian forint EURHUF= firmed 0.12% to 356.92 per euro, its strongest level since mid-February.

"The 358-level was very strong. If it also breaks 357, there will be nothing to stop it until 355," a trader in Budapest said. "But if U.S. inflation numbers come in higher than expected tomorrow and yields rise, that could stop the forint's firming."

The currency has recently been supported by a weaker dollar and a stabilization of U.S. Treasury yields, a cautious easing of lockdown measures and inflation numbers that were in line with expections, traders have said.

Hungarian headline inflation for March came in at 3.7% year-on-year, as expected, data showed on Friday, but the central bank's core inflation gauge declined.

Hungary's central bank is committed to buy green government bonds as part of its asset purchase programme, the bank said about a 30-year green government bond issue planned for this month.

Other countries in the CEE region are reporting inflation numbers later this week.

Inflation is likely to have ticked down in Romania due to base effects, but acceleration is expected in other CEE countries, Erste Bank wrote in a note.

The Polish zloty EURPLN= was up 0.1% at 4.5315 per euro after gains last week, boosted by global developments and a change in the central bank's communication about the zloty's rate.

Central bank governor Adam Glapinski said on Friday that it was too early to think about tightening monetary policy. He said inflation could exceed the upper limit of the bank's target, but that this would be temporary.

The Czech crown EURCZK= slid 0.5% and was trading at 26.065 per euro, stuck to the weak side of the psychological 26 per level, where it fell to at the end of the last week in a correction after sharp gains.

Stocks in the region were mixed, with Warsaw .WIG20 sliding 0.58%, Budapest .BUX down 0.1% while Prague .PX added 0.11%.

CEE

SNAPSHO AT

MARKETS T

1102 CET

CURRENC

IES

Latest Previous Daily

Change

bid

close

change in 2021 EURCZK= Czech

<EURCZK= 26.0650 26.0000 -0.25% +0.63%

crown

>

EURHUF= Hungary <EURHUF= 356.920 357.3600 +0.12% +1.63%

forint >

0

EURPLN= Polish <EURPLN= 4.5315

4.5359 +0.10% +0.61%

zloty

>

EURRON= Romania <EURRON= 4.9205

4.9222 +0.03% -1.13%

n leu

>

EURHRK= Croatia <EURHRK= 7.5690

7.5785 +0.13% -0.28%

n kuna >

EURRSD= Serbian <EURRSD= 117.450 117.5750 +0.11% +0.10%

dinar

>

0

Note:

calculated from

1800

daily

CET

change

Latest Previous Daily

Change

close

change in 2021 .PX

Prague

.PX

1093.08 1091.830 +0.11% +6.42%

0

.BUX

Budapes .BUX

43730.8 43775.41 -0.10% +3.85%

t

1

.WIG20 Warsaw

.WIG20 1963.72 1975.11 -0.58% -1.02% .BETI

Buchare .BETI

11266.5 11242.28 +0.22% +14.90

st

8

% .SBITOP Ljublja <.SBITOP 1015.04 1013.72 +0.13% +12.68

na

>

% .CRBEX Zagreb

.CRBEX 1880.85 1889.05 -0.43% +8.14% .BELEX1 Belgrad <.BELEX1 745.24

751.24 -0.80% -0.45% 5

e

5>

.SOFIX Sofia

.SOFIX

502.32

504.28 -0.39% +12.24

%

Yield

Yield

Spread Daily

(bid)

change

vs Bund change

in

Czech

spread

Republi

c

CZ2YT=R

<CZ2YT=R 0.6750

0.0060 +139bp

+2bps R

2-year R>

s CZ5YT=R

<CZ5YT=R 1.4430 -0.0600 +209bp

-4bps R

5-year R>

s CZ10YT=

<CZ10YT= 1.8890 -0.0390 +221bp

-1bps RR

10-year RR>

s

Poland

PL2YT=R

<PL2YT=R 0.1110 -0.0020 +082bp

+1bps R

2-year R>

s PL5YT=R

<PL5YT=R 0.8440 -0.0940 +149bp

-7bps R

5-year R>

s PL10YT=

<PL10YT= 1.5420 -0.0340 +186bp

-1bps RR

10-year RR>

s

FORWARD

3x6

6x9

9x12

3M

interba

nk

Czech

CZKFRA

0.45

0.63

0.90

0.36

Rep

<PRIBOR=

>

Hungary HUFFRA

1.00

1.22

1.38

0.79

BUBOR=

Poland

PLNFRA

0.24

0.27

0.35

0.21

WIBOR=

Note:

are for ask

FRA

prices

quotes

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

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


Additional reporting by Jason Hovet in Prague and Alan Charlish in Warsaw; Editing by Rashmi Aich

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