financetom
World
financetom
/
World
/
CEE MARKETS-Forint leads FX gains but pressure lingers
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CEE MARKETS-Forint leads FX gains but pressure lingers
Nov 13, 2024 3:43 AM

PRAGUE, Nov 13 (Reuters) - Central Europe's currencies

firmed on Wednesday to come off recent lows, but stayed under

pressure from a stronger dollar in the wake of Donald Trump's

victory in the U.S. election.

The Hungarian forint gained 0.4% to 409.20 to the

euro and stayed just off its 23-month low of 412.50 hit last

week.

"Uncertainty about America and Trump's presidency shows in

the rate of all emerging currencies," a Budapest-based trader

said.

"Markets are awaiting U.S. inflation data, but even that is

not very important now when the real question is what economic

and other policies Donald Trump will introduce next year."

Until then, the trader expects the forint to move between

400 and 413 per euro.

Emerging market currencies have been under pressure since

Trump's win as the dollar strengthened on expectations his

tariff and immigration policies could push up inflation,

limiting scope for U.S. interest rate cuts.

Tariffs could also be a blow to central Europe's more

export-dependent economies.

Elsewhere in markets, Poland's zloty was steady at

4.347 per euro and the Czech crown edged up 0.3% to

25.33 to the euro.

Polish central banker Cezary Kochalski told ISBnews in

comments published on Wednesday that there may be room to cut

interest rates in March 2025.

Poland, unlike Hungary or the Czech Republic, has seen

interest rates unchanged for the past year after two cuts in

2023.

CEE SNAPSHOT AT

MARKETS 1201

CET

CURRENCIES

Latest Previo Daily Change

us

trade close change in 2024

Czech 0

Hungary 00

Polish Romania Serbian 00

Note: calculated from 1800 CET

daily

change

Latest Previo Daily Change

us

close change in 2024

Prague 1666.28 1668.3 -0.12% +17.84

400 %

Budapes 77180.93 76966. +0.28% +27.32

t 70 %

Warsaw 3

Buchare 17718.84 17677. +0.23% +15.27

st 85 %

Spread Daily

vs Bund change

in

Czech spread

Republi

c

Poland

0

0

0

FORWARD RATE

AGREEMENTS

3x6 6x9 9x12 3M

interba

nk

Czech Hungary Poland Note: are for ask prices

FRA

quotes

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

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

(Reporting by Jason Hovet in Prague, Pawel Florkiewicz in

Warsaw, Anita Komuves in Budapest; Editing by Mrigank Dhaniwala)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Shares firm on hopes for trade deals, dollar tries to hold post-Fed bounce
Shares firm on hopes for trade deals, dollar tries to hold post-Fed bounce
May 26, 2025
SYDNEY(Reuters) - Shares in Asia firmed on Thursday after U.S. President Donald Trump flagged a first trade deal in his global tariff war, while the dollar tried to hold overnight gains as markets pushed out the chance of near-term rate cuts. S&P 500 futures erased earlier losses to be up 0.5% while Nasdaq futures rose 0.7%. The pan-European STOXX 600...
Japan's Nikkei rises; NTT Data set to surge on takeover report
Japan's Nikkei rises; NTT Data set to surge on takeover report
May 26, 2025
TOKYO, May 8 (Reuters) - Japan's Nikkei share average edged up on Thursday as chip-related shares tracked a rally in U.S. semiconductor stocks, while NTT Data ( NTTDF ) was set for a 17% jump following a takeover report. The Nikkei added 0.23% to 36,863.15 by the midday break, after breaking a seven-day winning run on Wednesday. The broader Topix...
Japan's NTT plans to buy remaining NTT Data shares for up to $20.9 billion, Nikkei reports
Japan's NTT plans to buy remaining NTT Data shares for up to $20.9 billion, Nikkei reports
May 26, 2025
(Reuters) -Japanese telecoms giant Nippon Telegraph and Telephone Corp ( NPPXF ) plans to make a tender offer worth up to 3 trillion yen ($20.92 billion) to buy the remaining shares in NTT Data, the Nikkei newspaper reported. NTT, the country's largest telco, owns 57.7% of NTT Data, which provides information technology services and had a market capitalisation of $29.5...
Gold rises over 2%, spotlight on Fed meet
Gold rises over 2%, spotlight on Fed meet
May 26, 2025
(Reuters) - Gold prices rose to a two-week high on Tuesday, supported by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports, while investors await the outcome of the Federal Reserve's policy meeting. Spot gold was up 2.4% at $3,413.29 an ounce at 1356 ET (17:56 GMT), its highest since April 22, when it hit a...
Copyright 2023-2025 - www.financetom.com All Rights Reserved