Free Trial

EUR/HUF Short the Go To Play On a Poland/Hungary Compromise

CEE
  • local yields mixed across the curve with slight upside bias, following two days of bull flattening at the long end.
  • EU veto concerns likely to weigh on yields as it looks increasingly likely that Poland & Hungary will be sidelined or the recovery fund/budget delayed.
  • PLN & HUF continues to track EUR-side developments after a breakdown in negotiations sent the cross higher before pulling back towards new swing lows.
  • Sell side notes that Poland and Hungary have too much to lose in negotiations and will eventually cave to EU pressure
  • Favouring EUR/HUF shorts to target the 200dma at 353.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.