CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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 Regional Peers Though EURHUF Ranges Narrow

HUF
EURHUF has started Tuesday’s session on the back foot, down 0.25% at typing. The forint is once again outperforming its CE3 peers, as lower core yields (both US10y and GE 10y -3.1bps), potentially provide some support (PLNHUF: -0.19%; CZKHUF: -0.47%). On the other hand, a softer single currency and lower major benchmark equity indices may limit additional HUF gains amid limited domestic drivers.
  • Price action so far remains within yesterday’s ranges with a familiar technical picture still in play: immediate support is marked at 378.24, the Aug 30 low. While this level has been recently pierced, a more sustained break would signal scope for a move lower toward 376.78, the Jul 25 low, as well as 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg.
  • CPI data is the highlight on the local calendar on Friday (Est: +10.4% y/y; Prior +12.2%). The data will be closely watched for its implications on the pace of upcoming monetary policy easing given concern of market participants that the generous HUF carry will be further eroded through year-end. The next NBH decision is on Nov 21.
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.