PRAGUE, Sept 3 (Reuters) - Central Europe's currencies

weakened a touch on Tuesday, stuck in tight ranges while taking

in a new round of economic figures and waiting on U.S. data this

week that may point to how deeply the Federal Reserve could cut

interest rates.

In Hungary, the forint has been holding off July

highs on the strong side of 390 since July.

It eased 0.2% to 393.20 to the euro on Tuesday after updated

gross domestic product (GDP) data confirmed the first quarterly

contraction since the start of 2023, as industry continues to

weigh on any recovery.

The Czech crown, which has failed in recent weeks

to firm past the psychological 25 per euro level, was down 0.1%

at 25.057 after data showing a slower pace of real wage growth

than expected, keeping interest rate cuts on the table,

according to analysts.

"The development of wages in the second quarter should be an

argument for the continued reduction of interest rates,"

Komercni Banka analysts said.

The Czech National Bank slowed its policy easing pace last

month, cutting the main repo rate by 25 basis points, to bring

it to 4.50%, after several 50-bp cuts.

In Poland, interest rate cuts were put on hold last year.

Markets, however, will watch a central bank meeting on Wednesday

to see whether policymakers may soon turn more dovish.

The zloty fell 0.1% to 4.2755 to the euro on

Tuesday, remaining below the 4.30 level where it has been since

mid-August.

"(The zloty) is pretty much rangebound; CEE3 is doing OK

despite the fact that the dollar is stronger," said a

Warsaw-based trader.

"There have been some comments that (Polish) rate cuts could

come sooner than the market thinks and the market will be

looking for anything from (Polish central bank Governor

Adam)Glapinski on that."

CEE SNAPSHOT AT

MARKETS 1140

CET

CURRENCIES

Latest Previo Daily Change

us

trade close change in 2024

Czech 0

Hungary 00

Polish Romania Serbian 00

Note: calcula 1800 CET

daily ted

change from

Latest Previo Daily Change

us

close change in 2024

Prague 1601.90 1606.9 -0.31% +13.29

600 %

Budapes 72714.63 72789. -0.10% +19.95

t 23 %

Warsaw 7

Buchare 18139.91 18111. +0.16% +18.01

st 37 %

Spread Daily

vs Bund change

in

Czech spread

Republi

c

0

0

Poland

0

0

0

FORWARD RATE

AGREEMENTS

3x6 6x9 9x12 3M

interba

nk

Czech Hungary Poland Note: are for

FRA ask

quotes prices

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