Free Trial

Forint Begins The Week on Firm Footing

HUNGARY
  • EURHUF sits 0.25% in the red at typing, price action which places the forint close to the top of the EMEA FX pile. A break of 380.73, the Oct 24, would reinstate a bearish theme in EURHUF and open 378.24, the Aug 30 low. With HUF price action largely a function of the global picture, Fed and BoJ risk events will be closely watched this week.
  • Further improving cooperation with Turkey is "one of the most important priorities" for the Hungarian government, and "the level of ties will be elevated to strategic partnership" before the end of the year, Foreign Minister Szijjarto said as per MTI late last week.
  • There is little else in the way of notable domestic news flow and no data releases scheduled for today. Looking ahead, PPI data, trade balance figures and manufacturing PMI are the highlights on the docket this week.

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.