AGL 40.10 Increased By ▲ 0.10 (0.25%)
AIRLINK 131.00 Increased By ▲ 1.47 (1.13%)
BOP 6.80 Increased By ▲ 0.12 (1.8%)
CNERGY 4.63 No Change ▼ 0.00 (0%)
DCL 9.00 Increased By ▲ 0.06 (0.67%)
DFML 43.75 Increased By ▲ 2.06 (4.94%)
DGKC 84.05 Increased By ▲ 0.28 (0.33%)
FCCL 33.15 Increased By ▲ 0.38 (1.16%)
FFBL 79.70 Increased By ▲ 4.23 (5.6%)
FFL 11.49 Increased By ▲ 0.02 (0.17%)
HUBC 110.50 Decreased By ▼ -0.05 (-0.05%)
HUMNL 14.73 Increased By ▲ 0.17 (1.17%)
KEL 5.37 Decreased By ▼ -0.02 (-0.37%)
KOSM 8.38 Decreased By ▼ -0.02 (-0.24%)
MLCF 39.83 Increased By ▲ 0.04 (0.1%)
NBP 61.01 Increased By ▲ 0.72 (1.19%)
OGDC 201.80 Increased By ▲ 2.14 (1.07%)
PAEL 26.72 Increased By ▲ 0.07 (0.26%)
PIBTL 7.89 Increased By ▲ 0.23 (3%)
PPL 161.50 Increased By ▲ 3.58 (2.27%)
PRL 26.65 Decreased By ▼ -0.08 (-0.3%)
PTC 18.50 Increased By ▲ 0.04 (0.22%)
SEARL 82.26 Decreased By ▼ -0.18 (-0.22%)
TELE 8.25 Decreased By ▼ -0.06 (-0.72%)
TOMCL 34.50 Decreased By ▼ -0.01 (-0.03%)
TPLP 9.10 Increased By ▲ 0.04 (0.44%)
TREET 17.20 Decreased By ▼ -0.27 (-1.55%)
TRG 61.25 Decreased By ▼ -0.07 (-0.11%)
UNITY 27.55 Increased By ▲ 0.12 (0.44%)
WTL 1.42 Increased By ▲ 0.04 (2.9%)
BR100 10,557 Increased By 150 (1.44%)
BR30 32,067 Increased By 353.6 (1.11%)
KSE100 98,549 Increased By 1220.5 (1.25%)
KSE30 30,662 Increased By 469.1 (1.55%)
Markets

FX firms as global mood brightens

  • 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.
  • "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.
Published April 8, 2021

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 US 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%.

Comments

Comments are closed.