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CEE MARKETS-Currencies ease a shade ahead of key Polish GDP, CPI data
May 31, 2017 / 7:53 AM / 5 months ago

CEE MARKETS-Currencies ease a shade ahead of key Polish GDP, CPI data

    * Poland to release Q1 GDP details, flash May CPI data
    * Polish CPI will be first May figure in the region
    * Annual CPI around 2 pct could lift zloty-analysts

    By Sandor Peto and Bartosz Chmielewski
    BUDAPEST/WARSAW, May 31 (Reuters) - Central European
currencies were slightly weaker against the euro on Wednesday,
ahead of key economic output and inflation figures from Poland.
    The forint, the Czech crown and the
zloty gave up some of Tuesday's gains, easing by about
0.1 percent, but still trading near their strongest levels for
months or years.
    Poland is due to release first-quarter gross domestic
product details at 0800 GMT and a flash estimate of May
inflation at 1200 GMT.
    While investors have closely watched what were the drivers
of healthy growth of around 4 percent in the region, there is
now more interest in the inflation figures.
    The Polish figure will be the first inflation release for
May in the region where consumer inflation indices often move in
tandem.
    April's lower-than-expected figures boosted the perceptions
that most of the region's central banks will not lift interest
rates any time soon despite a pick-up in economic growth.
    The zloty traded at 4.173 against the euro at 0716 GMT.
    A pick-up in investments in the data and inflation close to
2 percent could lift the zloty towards resistance levels near
4.16, "due to improving growth outlook, which is not accompanied
by growing inflationary pressure and risk of rate hikes in
coming quarters," Pekao SA analysts said in a note.
    Raiffeisen analyst Stephan Imre said Poland's annual
inflation probably stayed around the past months' typical levels
of 2 percent.
    "The data should underscore the ongoing goldilocks status of
the Polish economy with a strong, but not hot economy amidst a
stable inflation rate," he said in a note.
    Polish 10-year bonds traded flat, at a yield of 3.2685
percent, near 7-month lows.
    
                CEE MARKETS  SNAPSH   AT  0916 CET         
                             OT                      
                             CURRENCIES                    
                             Latest  Previo  Daily   Change
                                     us              
                             bid     close   change  in
                                                     2017
 Czech crown                 26.490  26.460  -0.11%   1.95%
                                  0       5          
 Hungary                     308.15  307.74  -0.13%   0.22%
 forint                          00      50          
 Polish zloty                4.1730  4.1712  -0.04%   5.53%
 Romanian leu                4.5710  4.5711   +0.00  -0.79%
                                                  %  
 Croatian kuna               7.4130  7.4183   +0.07   1.92%
                                                  %  
 Serbian dinar               122.50  122.58   +0.07   0.69%
                                 00      00       %  
 Note: daily    calculated   previo  close   1800          
 change         from         us      at      CET     
                             STOCKS                        
                             Latest  Previo  Daily   Change
                                     us              
                                     close   change  in
                                                     2017
 Prague                      1003.6  1006.1  -0.25%   +8.90
                                  2       5               %
 Budapest                    34315.  34321.  -0.02%   +7.22
                                 25      14               %
 Warsaw                      2293.1  2292.2   +0.04   +17.7
                                  7       7       %      2%
 Bucharest                   8708.8  8688.5   +0.23   +22.9
                                  4       0       %      2%
 Ljubljana                   781.08  782.22  -0.15%   +8.85
                                                          %
 Zagreb                        0.00  1854.0   +0.00  -100.0
                                          8       %      0%
 Belgrade                      0.00  719.15   +0.00  -100.0
                                                  %      0%
 Sofia                       663.89  659.35   +0.69   +13.2
                                                  %      1%
                             BONDS                         
                             Yield   Yield   Spread  Daily
                             (bid)   change  vs      change
                                             Bund    in
 Czech                                               spread
 Republic                                            
   2-year                    -0.188       0   +051b   -1bps
                                                 ps  
   5-year                      -0.1   0.027   +032b   +3bps
                                                 ps  
   10-year                    0.766       0   +046b   -1bps
                                                 ps  
 Poland                                                    
   2-year                      1.93  -0.019   +263b   -3bps
                                                 ps  
   5-year                     2.708   0.013   +313b   +1bps
                                                 ps  
   10-year                    3.283  -0.005   +298b   -1bps
                                                 ps  
                FORWARD      RATE    AGREEMENT             
                             3x6     6x9     9x12    3M
                                                     interb
                                                     ank
 Czech Rep              <PR    0.35    0.42    0.48       0
                IBOR=>                               
 Hungary                <BU    0.19    0.22    0.28    0.15
                BOR=>                                
 Poland                 <WI   1.752   1.775    1.83    1.73
                BOR=>                                
 Note: FRA      are for ask                                
 quotes         prices                               
 **********************************************************
 ****
 
 (Writing by Sandor Peto; Editing by Toby Chopra)
  
 
 

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