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CEE MARKETS-Zloty brushes off virus worries to lead FX gains

    April 1 (Reuters) - Central European currencies rose on
Thursday, with the Polish zloty leading gains, as
investors squared off positions ahead of the Easter weekend,
brushing off concerns over a new record number of coronavirus
cases in the country.
    The zloty had touched a 12-year low at the beginning of the
week amid concerns about surging numbers of COVID-19 cases in
the country, but has since rebounded and outperformed regional
peers.
    "This is ahead of holidays -- the zloty was underperforming
earlier, now it's outperforming... it seems like the main reason
is probably the market was long, squaring positions ahead of the
Easter holidays," a Warsaw-based currency trader said.
    Grzegorz Ogonek, an economist at Santander Bank Polska, said
the zloty had also been supported by a lower-than-expected 2020
general government deficit, which came in at 6.9% of GDP
according to statistics office data.
    At 0929 GMT, the zloty was 0.17% firmer against the euro at
4.624. The Czech crown was 0.12% firmer at 26.08 and
the Hungarian forint was little changed at 362.10.
    The forint has strengthened since last week, after the
central bank said it was ready to prevent a sustained rise in
inflation, traders said.
    "The euro-forint rate is near a very important level. It
arrived at the 50-day moving average, and if it breaks that, it
can continue moving first until the 360-level," brokerage
Equilor wrote.
    Polish 10-year yields were little changed at
1.572%. On Wednesday, the Polish central bank, which had earlier
announced that it would increase the frequency and flexibility
of its bond-buying operations, said it could hold more
operations in April.
    Czech 10-year yields fell almost 7 basis points
to 1.88%.
    
    
                     CEE       SNAPSHO   AT                      
                     MARKETS   T        1129 CET          
                               CURRENC                           
                               IES                        
                               Latest   Previous  Daily   Change
                               bid      close     change  in 2021
 EURCZK=   Czech     <EURCZK=  26.0800   26.1100   +0.12   +0.57%
           crown     >                                 %  
 EURHUF=   Hungary   <EURHUF=  362.100  362.0000  -0.03%   +0.17%
           forint    >               0                    
 EURPLN=   Polish    <EURPLN=   4.6240    4.6320   +0.17   -1.40%
           zloty     >                                 %  
 EURRON=   Romanian  <EURRON=   4.9120    4.9180   +0.12   -0.96%
           leu       >                                 %  
 EURHRK=   Croatian  <EURHRK=   7.5720    7.5715  -0.01%   -0.32%
           kuna      >                                    
 EURRSD=   Serbian   <EURRSD=  117.530  117.5600   +0.03   +0.03%
           dinar     >               0                 %  
           Note:     calculat                     1800           
           daily     ed from                      CET     
           change Latest   Previous  Daily   Change
                                        close     change  in 2021
 .PX       Prague              1093.45  1090.500   +0.27   +6.46%
                                               0       %  
 .BUX      Budapest            44241.4  44326.18  -0.19%   +5.07%
                                     4                    
 .WIG20    Warsaw              1947.96   1938.84   +0.47   -1.82%
                                                       %  
 .BETI     Buchares            11230.8  11189.60   +0.37   +14.54
           t                         6                 %        %
 .SBITOP   Ljubljan  <.SBITOP   994.58    993.80   +0.08   +10.40
           a         >                                 %        %
 .CRBEX    Zagreb              1876.39   1872.22   +0.22   +7.88%
                                                       %  
 .BELEX15  Belgrade  <.BELEX1   749.81    754.40  -0.61%   +0.16%
                     5>                                   
 .SOFIX    Sofia                502.37    502.28   +0.02   +12.25
                                                       %        %
                                                                 
                               Yield    Yield     Spread  Daily
                               (bid)    change    vs      change
                                                  Bund    in
           Czech                                          spread
           Republic                                       
 CZ2YT=RR    2-year  <CZ2YT=R   0.6460   -0.1350   +135b   -13bps
                     R>                               ps  
 CZ5YT=RR    5-year  <CZ5YT=R   1.4610   -0.0900   +210b    -9bps
                     R>                               ps  
 CZ10YT=R            <CZ10YT=   1.8800   -0.0690   +218b    -6bps
 R         10-year   RR>                              ps  
           Poland                                                
 PL2YT=RR    2-year  <PL2YT=R   0.0710   -0.0140   +077b    -1bps
                     R>                               ps  
 PL5YT=RR    5-year  <PL5YT=R   0.8390   -0.0040   +148b    +0bps
                     R>                               ps  
 PL10YT=R            <PL10YT=   1.5720   -0.0030   +188b    +0bps
 R         10-year   RR>                              ps  
                     FORWARD                                     
                               3x6      6x9       9x12    3M
                                                          interba
                                                          nk
           Czech                  0.45      0.65    0.97     0.36
           Rep       <PRIBOR=                             
                     >                                    
           Hungary                1.03      1.24    1.43     0.78
                                                          
           Poland                 0.27      0.32    0.42     0.21
                                                          
           Note:     are for                                     
           FRA       ask                                  
           quotes    prices                               
           *************************************                 
           *************************                      
 

    






















 (Reporting by Alan Charlish in Warsaw and Anita Komuves in
Budapest; Editing by Rashmi Aich)
 
 
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