Hungary, Poland, Turkey: Eastern Europe Bond, Currency Preview

By Beth Mellor and Ralph Johnston

Aug. 24 (Bloomberg) -- The following events and economic reports may influence trading in eastern European bonds and currencies today. Bond yields and exchange rates are from the previous day’s session.

Estonia: The statistics office releases data on the trade balance for June at 9 a.m. in Tallinn. Estonia ran a deficit of 673 million krooni ($61.6 million) in the month, compared with 470 million krooni in May, according to preliminary figures published on the Web site of the statistics office on Aug. 10.

The kroon, which is pegged to the euro, was little changed at 15.6459 per euro.

Hungary: The National Bank will set the interest rate at 2 p.m. in Budapest. The rate will be cut to 8 percent from 8.5 percent, according to the median estimate of 17 economists surveyed by Bloomberg.

The forint gained 0.7 percent to 267.89 per euro.

The yield on Hungary’s 6.5 percent bond due June 2019 fell four basis points to 8.28 percent.

Poland: The government will sell as much as 1 billion zloty ($349 million) of 52-Week treasury bills at 12 p.m. in Warsaw.

The zloty gained 1.2 percent to 4.0944 per euro.

The yield on the 5.75 percent percent government bond due April 2014 fell four basis points to 5.53 percent, according to PKO Bank Polski SA in Warsaw.

Serbia: The Statistics Office is expected to release data on the foreign trade balance for July this week. Serbia ran a trade deficit of 377.3 million euros ($541.3 million) in June.

The Statistics Office may also publish data on real wages for July. Year-on-year net wages rose 1.5 percent in June.

The dinar weakened 0.4 percent to 93.69 per euro.

Turkey: The State Institute for Statistics publishes figures on tourist arrivals for July at 10 a.m. in Ankara. Year- on-year arrivals fell 1.3 percent in June.

The lira gained 0.6 percent to 1.4814 per dollar.

The yield on the 16 percent government note due August 2013 dropped basis points to 11 percent.

To contact the reporter on this story: Beth Mellor in London bmellor@bloomberg.net