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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
- This morning, Hungary lost a legal challenge to overturn a European Parliament vote that opened the way for a probe into the erosion of democratic standards under Prime Minister Viktor Orban's rule according to Bloomberg; the challenge was dismissed by EU Court of Justice.
- As for Poland, we saw that the rise in inflationary pressures in the CEE region in the past two months has led to an increase in disagreements between NBH policymakers over the trajectory of rates in the coming months; the hawkish comment from deputy governor Virag led to a strong momentum on HUF in May, with the currency appreciating by nearly 5% against the US Dollar.
- The 10Y has been retracing lower after rejecting its 3% resistance yesterday; next key level to watch on the topside stands at 3.22%; on the downside, first support stands at 2.80 (50D SMA), followed by 2.75%.
- USDHUF has been retracing higher in the past two days after finding a local low at 283 on Tuesday (LT downward trending support line). Next supports to watch on the downside stand at 280, followed by 274. On the topside, first resistance stands at 290, followed by 295.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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