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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
- EURHUF retraced sharply lower this morning after reaching an all-time high at 372 yesterday.
- We recently mentioned that the HUF weakness is putting NBH policymakers in a difficult position as depreciating forint keeps supporting inflation expectations.
- The rise in the policy rate since June was not enough to limit the downside risk in HUF and therefore policymakers may have to accelerate the pace of the tightening cycle in case the forint continues to depreciate.
- Hungary 10Y yield consolidates lower this morning; support to watch on the downside stands at 4.33%, followed by 4.20%. On the topside, resistance to watch stands at 4.58%.
Source: Bloomberg/MNI
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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