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CEE MARKETS-FX firms as global mood brightens

·3 min read

April 8 (Reuters) - Central European currencies gained on Thursday, as sentiment was buoyed by a series of positive signals for the global economy this week. Buffeted by concerns over the COVID-19 pandemic and rising global bond yields, the region's currencies had a torrid time in March. However, they have recovered since then helped by a consolidation in yields and a weaker U.S. dollar, with recent global economic data on the labour market and the services sector giving a further boost. "There is good sentiment around the world which is connected with the record high of the Dow Jones and S&P, with better-than-expected PMI for services here in Europe yesterday, but also with a series of good readings from the United States," said Mateusz Sutowicz, a financial market analyst at Bank Millennium. PKO BP analysts said in a note the Polish zloty had been supported by a change in language concerning the currency in a central bank press release. The central bank said the pace of Poland's recovery would depend on the zloty exchange rate, but removed a long-standing reference to the dangers of a lack of "visible and more durable" zloty adjustment to the pandemic and previous rate cuts. At 1010 GMT, the Polish zloty was 0.54% firmer against the euro at 4.5516, the Czech crown had strengthened 0.09% to 25.8210, while the Hungarian forint was 0.13% stronger at 358.70. Poland sold bonds worth a total of 5 billion zlotys in a tender on Thursday. Benchmark Polish 10-year yields were little changed at 1.564% "Over the next few days, the yields of 2-year bonds should remain around 0.05%, while the yields of 10-year bonds should remain close to 1.60%," PKO BP analysts said in a note. Czech 10-year yields fell 4.7 basis points to 1.897%. CEE SNAPSHO AT MARKETS T 1210 CET CURRENC IES Latest Previous Daily Change bid close change in 2021 EURCZK= Czech EURHUF= Hungary 0 EURPLN= Polish EURRON= Romania EURHRK= Croatia EURRSD= Serbian 0 Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2021 .PX Prague 1085.36 1087.820 -0.23% +5.67% 0 .BUX Budapes 44131.9 44357.64 -0.51% +4.81% t 1 .WIG20 Warsaw 1982.73 1998.73 -0.80% -0.06% .BETI Buchare 11240.8 11243.97 -0.03% +14.64 st 8 % .SBITOP Ljublja <.SBITOP 1008.50 1005.87 +0.26% +11.95 na > % .CRBEX Zagreb 1879.77 1881.26 -0.08% +8.08% .BELEX1 Belgrad <.BELEX1 741.86 744.44 -0.35% -0.90% 5 e 5> .SOFIX Sofia 506.32 503.78 +0.50% +13.14 % Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republi c CZ2YT=R s CZ5YT=R s CZ10YT= s Poland PL2YT=R s PL5YT=R s PL10YT= s FORWARD 3x6 6x9 9x12 3M interba nk Czech 0.45 0.65 0.91 0.36 Rep Hungary 1.01 1.23 1.41 0.79 Poland 0.25 0.27 0.36 0.21 Note: are for ask FRA prices quotes ********************************************* ***************** (Reporting by Alan Charlish in Warsaw, Anita Komuves in Budapest and Jason Hovet in Prague; Editing by Amy Caren Daniel)