WARSAW, Aug 30 (Reuters) - Central Eastern European
currencies firmed on Friday, led higher by the Polish zloty,
ahead of next week's central bank meeting on interest rates,
after a flash estimate inflation reading for August showed
inflation edging higher.
Most emerging market currencies were higher on Friday as the
dollar weakened ahead of crucial U.S. inflation data that could
offer clues on the size of possible interest rate cuts by the
Federal Reserve next month.
Data released on Friday in Poland meanwhile showed Poland's
consumer inflation rising to 4.3% in August, slightly above
expectations, driven mainly by rising energy prices.
Poland's rate setters, who have cited inflation uncertainty
in their decisions on keeping borrowing costs steady since
October, are expected to prolong their pause next Wednesday, but
their commentary will be scrutinised for new signs of when
easing could resume.
By 0926 GMT the Polish zloty was up 0.2% against
the euro at 4.2755, at the centre point of the 4.24-4.31 range
where it has been trading since mid-August.
"The 4.28 (level) attracts like a magnet ... We assume that
if the zloty is close to this level, it is actually at a point
of short-term equilibrium for the time being and is waiting for
impulses that could break it from this point," Bank Millennium
markets analyst Mateusz Sutowicz said.
"We are counting that September central bank meetings,
including the local Monetary Policy Council, may be events that
lead to minor changes in the financial markets."
Sutowicz said that today's inflation print wasn't impacting
the zloty.
The Czech crown firmed 0.2% to 25.0250 per euro,
hovering near August's high hit earlier in the week.
Domestic demand fuelled by brisker government expenditure
drove the Czech economy's slow recovery in the second quarter,
updated statistics office data showed on Friday, with growth
muted by a sluggish industrial performance.
The Hungarian forint edged 0.1% higher to 392.50
per euro, also trading off its August high.
CEE SNAPSHOT AT
MARKETS 1126 CET
CURRENCI
ES
Latest Previous Daily Change
trade close change in 2024
Czech 25.0250 25.0615 +0.15% -1.29%
crown
Hungary 392.5000 393.0000 +0.13% -2.37%
forint
Polish 4.2755 4.2840 +0.20% +1.61%
zloty
Romanian 4.9775 4.9778 +0.01% -0.06%
leu
Serbian 116.9200 117.0200 +0.09% +0.28%
dinar
Note: calculated from 1800 CET
daily
change
Latest Previous Daily Change
close change in 2024
Prague 1587.09 1582.990 +0.26% +12.24%
0
Budapest 72982.34 73193.79 -0.29% +20.39%
Warsaw 2410.22 2403.14 +0.29% +2.87%
Bucharest 18293.25 18235.55 +0.32% +19.01%
Spread Daily
vs Bund change
in
Czech spread
Republic
2-year 5-year 10-year Poland
2-year 5-year 10-year FORWARD
3x6 6x9 9x12 3M
interban
k
Czech Rep Hungary Poland Note: FRA are for ask prices
quotes
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(Reporting by Karol Badohal in Warsaw; Editing by David Holmes
)