Free Trial

EUR/HUF Takes Out the 200dma as Banks Cite Better HUF Fundamentals

HUNGARY
  • Local rates maintain their upside bias, bear steepening.
  • 20Y now trading above 2.85, 10Y approaching new highs at 2.354.
  • EUR/HUF opens lower, holding its downside momentum to push through the 200dma (355.47) in a decisive move.
  • Sell side becoming more bullish on HUF fundamentals, despite sustained outflows in the bond market.
  • PPI data printed higher than expected this morning, reinforcing the NBH's cautious stance and concerns about inflation.
  • Sup1: 354.57, Sup2: 353.64, Res1: 355.82, Res2: 356.70
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.