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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
- HUF has been the best performing currency among the EM world since the start of January; the forint is up 4% against the USD and 3.7% against the Euro.
- Traders have been digesting the upward revision in EM central banks terminal rate (especially CEEMEA/Latam).
- The 1W depo rate (effective rate) could reach up to 4.5% in early 2022, with ‘core’ policy rate expected to slowly converge towards 1W depo rate through H1 2022.
- EURHUF tested its 355.40 support earlier today, which corresponds to the 61.8% Fibo retracement of the 345.10 - 372 range.
- A break below that level would open the door for a move down to 352.50.
- On the topside, first resistance to watch now stands at 357.70 (200DMA).
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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