MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURHUF Trading Below Yesterday’s Highs as Markets Await EU Commission Update

HUF
EURHUF trades close to this week’s highs after a hotter than expected inflation print and fuel price cap scrap led to a +1.80% rally yesterday, raising concerns of higher than anticipated inflationary pressure heading into 2023. Markets await the potential release of an updated assessment on Hungary’s progress to meet rule of law demands in response to a request by some EU member states earlier this week. Timing of such an assessment remains unknown.
  • EURHUF resistance is located at 416.03, the Oct 24 high. This level was pierced yesterday, though a clear break would suggest scope for a stronger short-term recovery and open 420.00 and above. On the downside, initial support to watch is unchanged at 404.39, the Nov 23 low. A clear breach of this level would strengthen a bearish case and expose support at 398.30, the Nov 10 low.
  • The Budapest Stock Exchange Index sits 1.20% higher on the day and is outperforming its CEE peers (Czech Prague SE: -0.03%, Poland WIG: +0.04%). While the index is comfortably above yesterday’s week lows, price action remains ~4% off November’s cycle highs. Bond yields trade 10-13bps higher, sitting at their highest levels since mid-November across the curve.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.