PRAGUE, Nov 1 (Reuters) - The Czech crown held off a
nearly three-month low on Friday, little moved by data showing a
slowing manufacturing decline as focus turned toward a central
bank rate meeting next week, while central Europe's other
currencies hovered as local markets were closed for holidays.
Hungary's forint was just off 22-month lows hit this week
and Poland's zloty was hanging around a 4-1/2 month low. Both
were a touch down on the day amid holiday trading.
A Reuters poll on Friday forecast central European
currencies rising to stronger levels in the coming months after
recent weakness caused by global market moves before U.S.
elections. But the relief will be limited, forecasts showed.
"There still seems to be no room for stabilisation here in
the near term and we expect CEE to remain under pressure at
least until the U.S. election," ING said in a note on Friday.
The dollar has firmed on bets that Republican candidate
Donald Trump could win next week's U.S. election. That dollar
strength has weighed on appetite for riskier emerging market
assets.
On Friday, the crown dipped less than 0.1% on the
day to 25.335 to the euro. The Reuters poll saw the crown
firming to 25.10 over the next three months and leading gains
over the next year.
The crown got some support on Friday after data from S&P
Global Purchasing Managers' Index (PMI) indicated manufacturing
activity last month declined at its slowest pace since June
2022. But some analysts said it was still too early to cheer
amid declining factory orders and as manufacturing remains the
main drag on an overall economic recovery.
Markets were also watching a Czech central bank policy
meeting next week amid chances policymakers will continue to cut
interest rates.
Czech rate-setter Jan Prochazka told Reuters last week that
the bank could continue easing monetary policy amid weaker
growth abroad and a slow domestic demand recovery, but must be
mindful of inflation hotspots.
CEE SNAPSHOT AT
MARKETS 1011
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 1652.74 1639.2 +0.82% +16.88
600 %
Budapes 73865.96 73865. +0.00% +21.85
t 96 %
Warsaw 7
Buchare 17487.68 17439. +0.28% +13.77
st 09 %
Spread Daily
vs Bund change
in
Czech spread
Republi
c
0
0
Poland
0
FORWARD RATE
AGREEMENTS
3x6 6x9 9x12 3M
interba
nk
Czech Hungary Poland Note: are for
FRA ask
quotes prices
****************************
****************************
******
(Reporting by Jason Hovet in Prague, Editing by Angus MacSwan)
Line of Credit 
Print
