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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
- Inflationary pressures continue to grow in Hungary with August CPI accelerating to 4.9% YoY (vs. 4.7% exp.), up from 4.6% the previous month.
- The chart shows that inflation continues to remain significantly above the NBH 4-percent upper tolerance band, implying that policymakers will continue their tightening cycle to curb the inflationary pressures and also create some room in case the economy experiences a downturn (again) in the near term.
- HUF is strengthening following the release as odds of another 'aggressive' hike (30bps) are rising for the next meeting. Next policy meeting is on September 21.
- USDHUF is currently trading slightly above today's low (294), next support to watch on the downside stands at 292. On the topside, first resistance stands at 295, followed by 295.90 (100DMA).
- Hungary 10Y yield has been retracing higher in the past two weeks, breaking above the 3% resistance last week and currently trading at around 3.07%. Key resistance to watch on the topside stands at 3.22% (May 18 high). On the downside, first support stands now at 3%, followed by 2.85% (50D, 100DMA).
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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