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.
CEE FX
The divergence in communication between the central banks of the CE3 economies has led to some substantial moves across CE3 FX. Today, NBP Governor Glapinski’s press conference has been interpreted as moderately hawkish, while the CNB has accelerated the pace of monetary easing with a 50bp cut (with one member voting for an even larger 75bp cut). Last week, the NBH surprised markets with a smaller-than-expected 75bp rate cut compared to unanimous sell-side consensus of a 75bp move. While that initially triggered a dip in EURHUF, the cross has since returned back toward pre-NBH levels.
- As noted previously, the dovish vote CNB vote split and relatively hawkish NBP press conference by Governor Glapinski has led to a surge of as much as 1.6% in PLNCZK, which pierced the 5.8000 handle for the first time since March 2021, and is currently at its highest since December 2020. PLNHUF, meanwhile, is up 0.4% on the day and at a fresh all-time high. CZKHUF is down over 1% and re-approaching the cluster of lows in the 15.3000 region. A break here would put the cross at its lowest in over 20 months.
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