日本語
Español
中文
Русский 
- New York 08:47
- London 13:47
- Barcelona 14:47
- Tokyo 22:47
- Sydney 00:47
Central European Daily
3
0
Polish Finance ministry plans no long−dated auction until September
Mon, Jun 29 2009, 08:30 GMT
by KBC Market Research Desk
Headlines
Currencies: CEE currencies in wait and see mode ahead of heavy US calendar
Fixed Income: Polish Finance ministry plans no long-dated auction until September
Czech Republic
On Friday, the Czech koruna gave up part of its gains, which was triggered by CNB’s decision to leave rates unchanged on Thursday. Hence, the EUR/CZK pair moved back above the 26.0 level.
This week the domestic calendar is completely empty, so the koruna will to watch at foreign markets, where the calendar is very well packed (though not today). Tomorrow, euro zone CPI is forecasted to fall into negative territory (-0.2% Y/Y), but the risks might be on the upside of expectations after the German and Spanish inflation data. In the US, the manufacturing ISM is forecasted to show the sixth consecutive improvement in June. And last but not least this month, the payrolls are scheduled for release on Thursday instead of Friday due to the long July 4th weekend.
The Czech yield curve flattened as the CNB decision continued to weight on the front end of the curve, while the long end of Czech curve tracked partly benefited from better sentiment in core bond markets. This week the domestic calendar is completely empty, hence the Czech bond curve will behave mostly according to the German curve, while the front end will watch the koruna movements.
| Currencies | Close | change |
| EUR/CZK | 26.07 | 0.4% |
| EUR/HUF | 276.9 | 0.3% |
| EUR/PLN | 4.512 | 0.3% |
| USD/PLN | 3.196 | -0.4% |
| EUR/USD | 1.400 | -0.2% |
| USD/JPY | 95.2 | -0.7% |
| Bonds 2Y | Close | change |
| Czech Rep. | 2.94 | 0.03 |
| Hungary 3Y | 10.19 | -0.03 |
| Poland | 5.35 | 0.05 |
| Slovakia | 2.74 | 0.13 |
| Eurozone | 1.34 | 0.01 |
| USA | 1.11 | -0.02 |
| Bonds 10Y | Close | change |
| Czech Rep. | 5.89 | 0.04 |
| Hungary | 10.22 | -0.07 |
| Poland | 6.44 | -0.01 |
| Slovakia | 5.40 | 0.45 |
| Eurozone | 3.39 | -0.04 |
| USA | 3.53 | -0.05 |
Poland
The Polish currency failed to get below 4.50 EUR/PLN on Friday. The zloty ignored the announcement that the finance ministry does not plan to issue long dated bonds in the next two months. Otherwise the session was rather calm with slightly below average volumes.
This week is nearly empty concerning domestic issues. The zloty seems to have a lot of problems with getting below 4.50 EUR/PLN. Furthermore if the appetite for risk deteriorates, we may see some weakness on the Polish market in the week ahead.
Published on Mon, Jun 29 2009, 08:40 GMT
Archive
- Hungarian central bank cut rates by another 50 bps
Published On Tue, Nov 24 2009, 09:35 GMT - Hungary NBH expected to cut rates further today
Published On Mon, Nov 23 2009, 09:38 GMT - Polish labour market data in focus
Published On Fri, Nov 20 2009, 10:06 GMT - Polish labour market data in focus
Published On Wed, Nov 18 2009, 09:40 GMT - Polish CPI fell for second month in row
Published On Mon, Nov 16 2009, 09:30 GMT
KBC Bank
| Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be
Legal disclaimer and risk disclosure
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Related reports
Fundamental Currencies Comments - Currencies ahead of U.S. data by ecPulse.com
Tue, Nov 24 2009, 11:34 GMT
Market Session Recaps - London Session by FOREX.com
Tue, Nov 24 2009, 11:33 GMT
Daily FX Report - The AUD/JPY fell to 81.85 and the NZD/JPY fell to 64.80 by Varengold Wertpapierhandelsbank AG
Tue, Nov 24 2009, 11:04 GMT
European Market Update - German IFO survey hits 15 month highs by TradeTheNews.com
Tue, Nov 24 2009, 11:00 GMT
Daily Trading Forecast - USD Still Waltzes to the Same Tune by Swiss e Trade AG
Tue, Nov 24 2009, 10:58 GMT
Related content
U.S. 3Q preliminary GDP rises below advanced estimations; Dollar and Yen up
FXstreet.com | Tue, Nov 24 2009, 13:46 GMT
US 3Q GDP +2.8%; Less Than Earlier Estimated
Dow Jones | Tue, Nov 24 2009, 13:45 GMT
US 3Q Real Personal Consumption Expenditures increase 2.9%
FXstreet.com | Tue, Nov 24 2009, 13:35 GMT
US 3Q GDP rises 2.8%
FXstreet.com | Tue, Nov 24 2009, 13:34 GMT
CURRENCIES: Dollar Up; Euro Trims Losses On German Ifo Rise
Dow Jones | Tue, Nov 24 2009, 12:55 GMT
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.