* Hungary forint holds near 11-month highs vs euro
* Polish zloty extends gains after Tuesday's rate hike
* Crown edges down after weaker than fcast trade data
BUCHAREST, April 6 (Reuters) - Central European currencies
firmed further on Wednesday on rising stocks, with the Hungarian
forint <EURHUF=> leading regional gains on continued optimism
over the country's fiscal reforms.
European shares edged higher to hit a four-week high on
Wednesday as growing optimism about a global economic recovery
improved sentiment. []
By 0755 GMT, the forint was up 0.2 percent at 263.61 to the
euro, trading near 11-month highs hit the previous day. The
Polish zloty <EURPLN=> and the Romanian leu <EURRON=> were both
0.1 percent firmer.
"For the time being, it's a one-way street (for the
forint)," said one dealer in Budapest. "The 260 level is seen as
key psychological level."
"I think 262.50-263.00 is strong support now and will see
what happen with HUF if ECB does something tomorrow," said
another trader.
Hungary's central bank will publish the minutes of its March
rate meeting at 1200 GMT. It left its key base interest rate
unchanged at 6 percent <NBHI> in March.
That was the first rate meeting attended by three of the
bank's four new rate setters picked by the ruling Fidesz party.
The govt is also expected to discuss convergence programme in
first reading later on Wednesday.
Poland's zloty extended its gains after firming to beyond
4.000 against the euro the previous day, following an expected
rate hike by 25 basis points to 4.0 percent and the prospect of
more rate increases at the horizon. []
"The statements from the central bank's governor, suggesting
further steps towards monetary policy tightening, can support
the zloty and put pressure on yield growth," analysts at Pekao
bank wrote in their morning research note.
The Czech crown <EURCZK=> pulled back from a 2-1/2 week high
of 24.350 hit at the start of the session following data in what
dealers said was mostly a correction.
The crown has held for several weeks in a range between
24.332 and 24.587, which are its 55-day and 100-day moving
averages respectively.
Czech industrial output rose by 13.0 percent versus a year
earlier in February, below expectations of a 13.7 percent rise
after revised 16.4 percent growth in the previous month.
Data also showed foreign trade posted a 13.75 billion crown
($2.48 billion) surplus, smaller than analyst forecasts of a
15.0 billion surplus. []
"From the crown point of view the foreign trade data is
negative, because the dynamics of exports was disappointing,"
said Jiri Skop, economic and strategy research at Komercni
Banka.
--------------------------MARKET SNAPSHOT--------------------
Currency Latest Previous Local Local
close currency currency
change change
today in 2011
Czech crown <EURCZK=> 24.397 24.346 -0.21% +2.47%
Polish zloty <EURPLN=> 3.993 3.997 +0.1% -0.88%
Hungarian forint <EURHUF=> 263.61 264.05 +0.17% +5.45%
Croatian kuna <EURHRK=> 7.368 7.367 -0.01% +0.16%
Romanian leu <EURRON=> 4.103 4.108 +0.12% +3.17%
Serbian dinar <EURRSD=> 102.2 102.36 +0.16% +3.65%
All data taken from Reuters at 0955 CET.
Currency percent change calculated from the daily domestic
close at 1600 GMT.
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(Reporting by Reuters bureaus; Editing by Toby Chopra)
