Free Trial

CEE FX: ING Remain Bearish on CEE FX

CEE FX

ING note that while CEE markets are still rather driven by the global story, they believe inflation numbers in the region could set the direction for FX. For now, they remain rather bearish on the region.

  • EUR/HUF quickly reached higher levels on Friday and although ING think conditions do not point to further HUF weakness, they don't believe that market repricing is over yet. If inflation moves closer to the NBH forecast, it would signal further HUF weakness, they add.
  • EUR/CZK is resisting upward pressure for now - indicated by the rapid decline in rate differential. However, ING continue to see a tactical move up towards 25.20 before returning to their earlier view of heading below 25.00.
  • ING continue to see EUR/PLN trading in the 4.27-28 range.

To read the full story

Close

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.