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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
- It did not take long for the selling pressure on forint to surge (again); EURHUF has been trending higher in the past week, erasing all of its post NBH-hike gains last Tuesday.
- EURHUF broke back above the 400 level yesterday and is gradually approaching its all-time high at 404.80.
- A break above that level would open the door for a move up to 410.79, which corresponds to the 123.6% Fibo projection of the 352.40 – 399.60 range.
- Important data to watch this week will be CPI inflation on July 8, which is expected to accelerate to 11.5% in June (up from 10.7% the previous month).
- A higher-than-expected print will pressure the NBH to act via the 1W depo rate facility the following week.
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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