MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1870 Mon; -2.26% Y/Y

MNI China Daily Summary: Friday, December 20

EZ/UK T-Bill Calendar: Greece to Sell Bills New Year's Eve

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: CANADA NOV INDUSTRIAL PRICES +0.6% MOM; EX-ENERGY +0.5%

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

Forint Outperforms CE3 Peers, HUFJPY Retreats After Test of Multi-Year High

HUF
  • The forint is outperforming its CE3 peers at the start of the week, with EURHUF trading close to a 2-week low at typing. The cross has now erased roughly half of the April 5-19 upleg, with today’s downtick resulting in a breach of the 50-day EMA at 392.08. A clear break of this average could expose 388.34, the April 5 low.
  • Initial JPY weakness overnight led to a sharp spike in HUFJPY, coinciding with USDJPY above 160.00. HUFJPY tested the November 16 high of 43.7082, before the ensuing price action linked to strong indications of Japanese intervention resulted in a substantial reversal lower. At typing, the cross sits at around 42.5842, down 1.3% on the session.
  • The flash reading of Q1 Hungarian GDP data is on the docket tomorrow morning, with growth expected to have risen +0.5% Q/Q (compared to flat growth in Q4-2023) on the back of fading supply shocks and tentative signs of improvement in Euro area activity.
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.