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EURHUF Little Changed as Markets Await ECB

HUF
  • EURHUF has operated within a narrow range Thursday and is down ~0.10% at typing, with little in the way of domestic catalysts driving price action so far. Forint performance is in-line with that of its CEE peers, with wider moves across EM FX lacking any notable follow through ahead of the ECB rate decision this afternoon – where the September decision will likely be a very close call between a 25bp hike and a pause.
  • Technical conditions in EURHUF remain bullish, with a sustained break of 391.64, the Aug 21 high, needed to open 394.67, the Aug 3 high and a key resistance. On the downside, the 50-day EMA marks the support level to watch and intersects today at 382.60.

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