Free Trial
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
- Hungary continued to block a European Union proposal that would ban Russian oil imports, holding up the bloc’s entire package of sanctions meant to target President Vladimir Putin over his war in Ukraine (BBG).
- EURHUF continues to trend higher this morning, supported by the CEE FX weakness; the pair is currently trading at its highest level since March 9th.
- Next resistance to watch on the topside stands at 390.
- On the downside, support to watch stands at 380, followed by 376.20 (50DMA).
- Last week, the NBH decided to leave its 1W deposit rate steady at 6.45% despite EURHUF trading above the 380 level.
- This week, important data to watch will be CPI inflation coming on May 10, expected to accelerate to 8.9% in April.
- 'Positive' inflation surprise combined with some HUF weakness in the ST could pressure NBH to act via the 1W depo facility.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok