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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.
HUNGARY
- We have seen that the new surge in risk aversion in the past two weeks has been significantly weighing on the forint, with EURHUF breaking back above the 410 level this week.
- The NBH did not intervene via the 1W depo facility and kept its effective policy rate steady at 10.75% yesterday.
- In order to ease the selling pressure on the forint, the central bank is most likely to maintain the pace of its tightening cycle and hike its base and 1W depo rates by at least 100bps next week.
- Key resistance to watch on EURHUF stands at 416.90, which is the pair’s all-time high reached in early July.
- Yesterday, economic data showed that unemployment rate rose to 3.5% in July, up from 3.3% the previous month.
Source: Bloomberg
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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