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CPI Inflation Expected To Accelerate To 15.9% in August

  • EURHUF ticks lower this morning after finding resistance at the 405 level yesterday, but continues to trade above the key 400 threshold.
  • We have seen recently that the persistent USD strength has been supporting the EURHUF exchange rate, which continues to remain extremely sensitive to the level of risk aversion.
  • Yesterday, economic data showed that retail sales came in lower than expected at 4.3% in July (vs. 6.1% exp.), down from 4.5% the previous month.
  • Economic data to watch this week will be CPI inflation coming out on September 8, expected to accelerate to 15.9% in August.

Source: Bloomberg

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