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EURHUF Sees Modest Dip at Start of Wednesday’s Session

HUNGARY
  • The forint is the strongest performer in the EMEA FX space so far today after the currency’s NBH-inspired rally yesterday proved to be short-lived. EURHUF and USDHUF both sit around 0.50% lower at typing, though remain off yesterday’s lows. Support in EURHUF is found at 383.99 – the 50-day EMA.
  • Data from Hungary's latest national census shows an increase in marriages and a growing share of people under the age of 30 with children, but the country's population is aging, the head of the Central Statistical Office said.
  • There are no more notable domestic releases on the docket today, with PPI and unemployment rate data the highlights later in the week. Attention will turn to Eurozone CPI prints given HUF sensitivity to US and ECB rate paths as well as global risk developments.
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