CEE MARKETS 2-FX steady; investors look to rate moves, U.S. poll

                                
 WARSAW, Nov 4 (Reuters) - Emerging European currencies were
mixed on Tuesday as markets stayed calm after a frantic October,
while investors remained cautious before the U.S. presidential
election on Tuesday and interest rate decisions later this week.
                                
 At 0938 GMT Romania's leu <EURRON=> was down 0.4 percent to
3.69 to the euro on commercial orders and the Czech crown
<EURCZK=> was down 0.2 percent at 24.31 to the euro. 
                                
 Poland's zloty <EURPLN=> added 0.3 percent to 3.54 against
the common currency and Hungary's forint <EURHUF=> added 0.8
percent to 259.5 in thin trade.
                                
 Central European markets were smacked last month as the
year-long financial crisis spilled over into the region, pushing
Hungary to seek aid from the International Monetary Fund and the
European Union to ease concerns over its external financing.
                                
 Serbia followed that move on Monday and sought a loan from
the IMF to strengthen its budget, officials said [ID:nL3453787].
The dinar <EURRSD=> was unchanged at 84.207 per euro on Tuesday.
                                
 Investors looked to a Czech interest rate decision this
week. The central bank, the first in the region to loosen policy
in August, is expected to cut rates by 25 basis points from 3.25
percent on Nov. 6.
                                
 "There are no real impulses right now, and we are waiting
for a decision from the central bank on Thursday," one
Prague-based currency dealer said. "The Czech crown should
remain stable."
                                
 Earlier in the day Australia cut interest rates by a greater
than expected 75 basis points. The Bank of England and European
Central Bank are forecast to follow suit on Thursday with 50 bps
reductions.
                                
 The start of election day in the United States was also
likely to cool trade. "With the U.S. presidential election going
on, I think not much is going to happen on the market. If
anything, we'll move with the region and the forint will follow
emerging markets," a Budapest-based dealer said.
                                
 Bonds market remained calm and with improving liquidity,
prices remain quite steady as there are still not many sellers.
                                
 "Liquidity is a little higher from brokers," said one fixed
income trader in Prague. "But positively, there are not so many
sellers from abroad right now."
                                
 Bond markets in the region mostly seized up last month as
foreign funds hunted for cash.
                                
 Later in the day Poland's central bank will hold 91-day repo
tender to ease strains on the money market, while Hungary will
offer 30 billion forints' ($150 million) worth of three-month
treasury bills at tender <HUISSUE> with the results due at 1030
GMT.
                                
 
----------------------MARKET SNAPSHOT-------------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2008 
Czech crown      <EURCZK=>   24.313   24.257  -0.23%   +8.24%
Polish zloty     <EURPLN=>    3.540    3.552  +0.34%   +1.68%
Hungarian forint <EURHUF=>  259.510  261.510  +0.76%   -2.63%
Croatian kuna    <EURHRK=>    7.145    7.158  +0.18%   +2.48%
Romanian leu     <EURRON=>    3.690    3.674  -0.44%   -3.07%
Serbian dinar    <EURRSD=>   84.207   84.207   0%      -6.92%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
3-yr T-bond   CZ3YT=RR    -9 basis points to  164bps over bmk*
5-yr T-bond   CZ5YT=RR   +6 basis points to  +169bps over bmk*
10-yr T-bond   CZ9YT=RR   +2 basis points to  +117bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR   +12 basis points to  +447bps over bmk*
5-yr T-bond   PL5YT=RR   +9 basis points to  +361bps over bmk*
10-yr T-bond PL10YT=RR   +4 basis points to  +276bps over bmk*
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR    -14 basis points to  +1012bps over bmk*
5-yr T-bond   HU5YT=RR    -14 basis points to  +934bps over bmk*
10-yr T-bond   HU10YT=RR  -3 basis points to  +604bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1038 CET.
Currency percent change calculated from the daily domestic 
close at 1500 GMT.

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 (Reporting by Reuters bureaus, Writing by Dagmara Leszkowicz;
editing by David Stamp)