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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
- With EURHUF trading back below the 410 level, chances for NBH to hike this morning have eased and policymakers could wait for next week ‘core’ meeting to hike both the base and 1W depo rates by at least 100bps.
- Selling pressure on the forint has been surging in the past few weeks, mainly driven by the rise in risk aversion (i.e. USD strength).
- EURHUF hit a local high of 414.70 yesterday before starting to consolidate.
- The NBH did not hesitate to intervene via the 1W depo rate facility last time when HUF was experiencing significant selling pressure.
Source: Bloomberg
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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