Free Trial

EURHUF Close to Intraday Lows Though Ranges Narrow

  • The forint sits close to the top of the EMEA FX pile, with EURHUF seen approaching its intraday lows at typing, though the cross has operated within a relatively narrow range amid few domestic catalysts. The muted price action mirrors that of broader G10 and EM FX, which has generally seen little follow-through in today's moves.
  • Trend conditions in EURHUF remain bullish with the recent pullback deemed corrective. The 20- and 50-day EMAs, intersecting at ~385.00 and ~382.00 respectively, represent the important support levels to watch. On the upside, a resumption of gains would refocus attention on 394.67, the Aug 3 high.
  • HGBs are following the trend seen across global FI, with the curve seen bear steepening. Yields on 10Ys last deal 15bps higher and are approaching highs printed earlier this month. Meanwhile, the Budapest Stock Index sits 0.75% higher – slightly outperforming the counterparts of its CE3 peers.

To read the full story



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.