MNI: Fed: Policy Well Positioned To Respond To Risks

CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

MNI: BAKER HUGHES US RIG COUNT 585; OIL RIGS 479; GAS RIGS 101

EZ/UK T-Bill Calendar: Germany, France to Issue Bills Monday

EZ/UK Bond Supply Calendar: EU/UK Syndications Due Next Week

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Forint Among Top EMEA Currencies in Wake of Softer Inflation Data

HUF
EURHUF spiked slightly higher to an intraday high of 389.15 following the weaker-than-expected CPI data, but the cross has since reversed its gains and sits 0.3% lower on the day overall. Price action places the forint second to only the South African rand at the top of the EMEA pile, as a firmer equity backdrop and weaker greenback supports broader EM FX.
  • CPI came in softer than forecast at 0.4% M/M vs. Exp. 0.5% (Prior: 0.7%), Y/Y 12.2% vs. Exp. 12.4% (Prior: 16.4%). This marked the eighth consecutive sequential slowdown in inflation, with food price inflation dropping to 15.2% from 19.5% in the prior month. The economy ministry stated the data was evidence of the government's success in fighting inflation, predicting CPI may slow to below 10% in November.
  • The technical outlook in EURHUF is still bullish with key resistance marked at 394.67, the Aug 3 high. Clearance of this level would open $402.45, the Mar 20 high. On the downside, support is found at the 50-day EMA, intersecting today at 385.50.
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.