MNI BRIEF: Fed's Collins Urges Patience On Judging Inflation

CORRECTED: MNI BOE WATCH: On Hold And Splits Set To Continue

MNI China Daily Summary: Tuesday, June 18

MNI: PBOC Net Injects CNY84 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY86 BILLION VIA 7-DAY REVERSE REPOS TUES

Notable Moderation In PCCI In May, But Services Persistence Still Noted

Commodity Price Action Supports Krone

EZ/UK Bond Supply Calendar: Cyprus Synd; Greece, Germany Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURHUF Extends Gains on NBH Governor Comments

HUF
EURHUF has extended its gains following Matolcys’ comments which potentially indicate that further rate cuts could be coming, given the expected reduction in inflation. The cross traded to as high as 387.72, falling shy of key resistance at 391.64, the Aug 21 high. Meanwhile, USDHUF reached its highest level since Sep 7. A break of that day’s high, at 365.66, would put the pair at its highest level since mid-March. Price action sees the forint underperforming all of its peers in the EMEA space today.
  • The NBH Governor told a conference that consumer price growth will probably drop to single-digit territory by November and slow further from there at the end of the year – comments which largely mirror that of various government officials. Regarding policy rate moves, he reiterated that Hungary’s interest-rate policy needs to be data-driven, cautious and gradual.
  • Meanwhile, he said that the government’s “maverick” economic policy, including loose spending and a regime of price caps, is making the economy one of the most vulnerable globally.
  • Finance minister Varga said that the government’s main priority is still inflation, adding that a stable and predictable exchange rate is needed.
  • Deputy Governor Virag is scheduled to speak at 1300BST/1400CET.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.