LONDON, Feb 15 (Reuters) - Central European currencies
slipped on Friday, pressured by weak economic data and concern
over the impact of weakening in major global currencies, with
investors watching the G20 meeting in Moscow for signs on the
monetary policy outlook.
Russian stocks fell, while benchmark emerging equities were flat after touching one-week highs on Thursday.
The Hungarian forint fell 0.2 percent after
dropping nearly 1 percent on Thursday on data showing the
country was slipping further into recession, while the Polish
zloty was down 0.15 percent in the wake of poor euro zone GDP
'We're seeing after-effects of the data from the euro zone,
particularly Germany, which is always important for the Eastern
European currencies,' said Thu Lan Nguyen, emerging market
analyst at Commerz Bank.
With investors concerned that emerging economies will
suffer as developed markets, most recently Japan, weaken their
currencies, Nguyen said markets were watching the G20 meeting
closely for monetary policy developments.
'This morning we had some comments from Bundesbank president
Jens Weidmann which has been driving currencies lower,' she said
referring to the policymaker's comments that the European
Central Bank would not intervene purely on the grounds that the
euro was too strong.
In stocks news, a flotation of the Moscow Exchange , Russia's major platform for trading shares, currency
and bonds, was priced at the lower end of a guidance range as
the Russian market fell for a second day after a short-lived
rally on Wednesday.
'After Wednesday's strong gains, markets got a reality check
yesterday as Europe's GDP growth data disappointed. Investors
remain nervous and sentiment is finely balanced,' analysts at
Sberbank CIB said in a note.
The South Korean won ended its best week in 14
months, gaining 1.6 percent against the dollar as foreign
investors snapped up South Korean stocks.
The South African rand fell 0.6 percent, retreating from a
near one-month high in early morning trade, to fall back into
its 8.80-9.00 range in which it has traded recently.
(Reporting by Stephen Eisenhammer; Editing by Ingrid Melander)
((Stephen.Eisenhammer@thomsonreuters.com)(+44 207 542
( Emerging Markets Prices from Reuters Equities Latest Net Chg % Chg % Chg on year Morgan Stanley Emrg Mkt Indx 1066.83 +0.99 +0.09 +1.10 Czech Rep 1002.51 +3.45 +0.35 -3.48 Poland 2454.77 -1.59 -0.06 -4.96 Hungary 18804.88 -64.88 -0.34 +3.48 Romania 5457.66 -11.59 -0.21 +5.98 Russia 1577.62 -10.69 -0.67 +0.10 South Africa 36255.57 -29.52 -0.08 +4.20 Turkey 77947.03 +366.53 +0.47 -0.33 China 2432.40 +13.87 +0.57 +7.20 India 19468.15 -29.03 -0.15 +0.21 Currencies Latest Prev Local Local close currency currency % change % change in 2013 Czech Rep 2)
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.