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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.
HUF
- The EU fund news has triggered some downside momentum in EURHUF, with the cross down 0.33% and just below the 380.00 handle at typing.
- Yesterday, EURHUF respected resistance at the 50-day EMA, ultimately ending the session close to flat. The break of that average in mid-October marked the beginning of a bearish cycle, which was strengthened when price failed to break back above that level on two instances later in the month.
- Failing to break above once again provides more confirmation that the bounce from the mid-November lows is technically corrective, and that a bearish theme is still in play. Immediate support to watch is marked at 378.85, the 50% retracement of the Nov 14-22 upleg.
- While the HUF continues to be heavily influenced by global themes given the increasing predictability of NBH policy, positive news on the EU funds front provides a more fundamental driver behind the strength of the local currency.
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.
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