CANADA JULY CPI +2.5% YOY, SLOWEST SINCE MARCH 2021

MNI China Daily Summary: Tuesday, Aug 20

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

MNI: US REDBOOK: AUG STORE SALES +4.8% V YR AGO MO

MNI: US AUG PHILADELPHIA FED NONMFG INDEX -25.1

MNI: CANADA JUL CPI INFLATION +0.4% M/M, +2.5% YY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Commerzbank Forecast EURHUF to Head Toward 375 in Coming Months

HUNGARY
  • Commerzbank write that they observed a slight month-on-month acceleration in both headline and core CPI measures in Hungary’s inflation data last week, though the acceleration was not significant.
  • They say these movements fall within the range of routine statistical noise, and are not very noticeable. Crucially, the rate of change of prices appears to be normalising back to its lower historical range. They add that the November reading, by itself, annualises to a 3.6% inflation rate, which is above the 3% target but inside the target range.
  • In Commerzbank’s view, this counts as a positive development and should not weigh down on HUF’s valuation, in contrast with some media reports which suggested that soft inflation was pushing down HUF. Rather, they forecast EURHUF to head lower towards the 375 range in coming months as the NBH will probably wait for the year-on-year inflation rate to fall further before considering changing its 75bp rate cutting steps.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.