CEE MARKETS-Stocks ease and currencies mixed as markets await tariff news

P10, INC. 0.00% Post
Dow Jones Industrial Average +0.48%
S&P 500 index +0.72%
NASDAQ +1.16%

P10, INC.

PX

10.54

10.54

0.00%

0.00% Post

Dow Jones Industrial Average

DJI

46565.74

+0.48%

S&P 500 index

SPX

6575.32

+0.72%

NASDAQ

IXIC

21840.95

+1.16%

- Central European stocks slid and currencies were mixed on Monday as the U.S. dollar hovered near multi-year lows and investors focused on the countdown to U.S. President Donald Trump's tariff deadline.

Most U.S. trade partners face the prospect of much steeper duties after the 90-day moratorium on Trump's "Liberation Day" reciprocal tariffs ends on Wednesday. Trump clarified on Sunday that the new rates would take effect from August 1.

Warsaw's stocks .WIG20 were 0.22% lower while Budapest's equities .BUX slid 0.08%. Prague's stock index .PX lost 0.28% while Bucharest .BETI eased 0.3%.

"The focus will be mainly on the U.S. trade story and Wednesday's deadlines," ING wrote in a note.

"In general, however, CEE currencies should not be the main ones exposed and the shield from a stronger EUR should protect the region from a possible risk-off sentiment," they wrote.

The Polish zloty EURPLN= slid 0.2% to trade at 4.2505 per euro, near levels where it stabilised at the end of last week after a surprise central bank rate cut and mixed signals from the Polish central bank on future interest rate decisions.

On Thursday, the head of the National Bank of Poland, Adam Glapinski, said the July 25-basis-point cut in Polish interest rates was not the start of a policy-easing cycle, but did not rule out further easing in September if conditions permit.

"The coming week is basically empty in terms of data, so the domestic market will follow global trends," Bank Pekao wrote.

"The most likely scenario is the stabilisation of the zloty at its current level, among other things due to the looser expected monetary policy," they said.

The Czech crown EURCZK= was flat against the euro at 24.615 after edging higher to a fresh one-year high of 24.5990 in early trading.

It has been firming since last week, bolstered by comments from Ales Michl, governor at the Czech central bank, who said that interest rates would likely remain at the current level "for some time".

"The acceleration of inflation, particularly core inflation, now strongly suggests continued unchanged interest rates, in particular at the August and September board meetings," Commerzbank wrote in a note.

The Romanian leu EURRON= slid 0.09% to trade at 5.0636 per euro as investors awaited a central bank rate meeting scheduled for Tuesday.

The Hungarian forint EURHUF= slid 0.29% to trade at 399.6 to the euro, trading within its recent tight range.

CEE MARKETS SNAPSHOT AT 1052 CET

CURRENCIES

Latest trade

Previous close

Daily change

Change in 2025

Czech crown

EURCZK=

24.6150

24.6190

+0.02%

+2.41%

Hungary forint

EURHUF=

399.6000

398.4500

-0.29%

+2.96%

Polish zloty

EURPLN=

4.2505

4.2420

-0.20%

+0.62%

Romanian leu

EURRON=

5.0636

5.0590

-0.09%

-1.72%

Serbian dinar

EURRSD=

117.0800

117.1500

+0.06%

-0.11%

Note: daily change calculated from 1800 CET

STOCKS

Latest

Previous close

Daily change

Change in 2025

Prague

.PX

2146.07

2151.8700

-0.27%

+21.92%

Budapest

.BUX

99434.27

99589.80

-0.16%

+25.35%

Warsaw

.WIG20

2854.44

2864.98

-0.37%

+30.22%

Bucharest

.BETI

18559.41

18614.05

-0.29%

+11.00%

BONDS

Yield (bid)

Yield change

Spread vs Bund

Daily change in spread

Czech Rep 2-year

CZ2YT=RR

3.4870

-0.0350

+167bps

-4bps

Czech Rep 5-year

CZ5YT=RR

3.7770

0.0020

+165bps

-1bps

Czech Rep 10-year

CZ10YT=RR

4.2090

0.0030

+163bps

-1bps

Poland 2-year

PL2YT=RR

4.3740

0.0580

+256bps

+6bps

Poland 5-year

PL5YT=RR

4.8080

-0.0100

+268bps

-2bps

Poland 10-year

PL10YT=RR

5.2940

-0.0160

+272bps

-3bps

FORWARD RATE AGREEMENTS

3x6

6x9

9x12

3M interbank

Czech Rep

CZKFRA, PRIBOR=

3.49

3.45

3.41

3.49

Poland

PLNFRA, WIBOR=

4.57

4.14

3.79

5.07

Note: FRA quotes are for ask prices

text_section_type="notes">For related news and prices, click on the codes in brackets: All emerging market news EMRG CEEU CEE/ Spot FX rates Eastern Europe spot FX EEFX= Middle East spot FX MEFX= Asia spot FX ASIAFX= Latin America spot FX LATAMFX= Other news and reports World central bank news CEN Economic Data Guide ECONGUIDE Official rates GLOBAL/INT Emerging Diary EMRG/DIARY Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY


(Reporting by Anita Komuves in Budapest and Karol Badohal in Warsaw; editing by Barbara Lewis)

((komuves.anita@thomsonreuters.com)(+36 70 795 8815))