MNI: EUROZONE FEB FLASH MANUF PMI 47.3 (FCST: 47.0); JAN 46.6

MNI: GERMANY FEB FLASH MANUF PMI 46.1 (FCST: 45.5); JAN 45.0

MNI BRIEF: UK Retail Sales Bounce Back From Weak Pre-Christmas

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI China Press Digest Feb 21: Consumption, Financing, Sino-EU

MNI: PBOC Net Injects CNY84 Bln via OMO Friday

MNI: FRANCE FEB FLASH MANUF PMI 45.5 (FCST: 45.3); JAN 45.0

MNI: FRANCE FEB MANUF SENTIMENT AT 97

MNI: UK JAN PSNCR GBP-22.48 BN

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HUF: Forint Recouping Losses Alongside Move Higher for European Equities

HUF
CEEMEAEM BulletBulletEmerging Market NewsHungary

Greenback weakness – predominantly led by a surge in the Japanese yen – and a solid recovery for European equities from their overnight lows has assisted the forint's recovery. Weakness in natural gas prices and comments from Foreign Minister Szijjarto (who said he discussed ending tariffs with US Treasury Secretary Bessent yesterday) may also be providing forint tailwinds at the margins. Focus for EURHUF remains on the key 400.00 support level.

  • The forint moved lower yesterday alongside the Polish zloty following Trump’s scathing criticism of Ukraine’s Zelensky, comments which sapped euro sentiment and underlined the difference in approach between Europe and the US in resolving the war.
  • Given the uncertainty both on this front and in regard to US tariff policy, moves for EURHUF have generally lacked distinct conviction in either direction this week. Indeed, the cross has operated within a relatively narrow ~0.7% range this week, compared to a range of around 1.2% last week.
  • Local drivers are likely to move back to the fore next week with the NBH rate decision set to be announced on Feb 25. Meanwhile, Prime Minister Orban will deliver a state-of-nation address over the weekend.
189 words

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.

Greenback weakness – predominantly led by a surge in the Japanese yen – and a solid recovery for European equities from their overnight lows has assisted the forint's recovery. Weakness in natural gas prices and comments from Foreign Minister Szijjarto (who said he discussed ending tariffs with US Treasury Secretary Bessent yesterday) may also be providing forint tailwinds at the margins. Focus for EURHUF remains on the key 400.00 support level.

  • The forint moved lower yesterday alongside the Polish zloty following Trump’s scathing criticism of Ukraine’s Zelensky, comments which sapped euro sentiment and underlined the difference in approach between Europe and the US in resolving the war.
  • Given the uncertainty both on this front and in regard to US tariff policy, moves for EURHUF have generally lacked distinct conviction in either direction this week. Indeed, the cross has operated within a relatively narrow ~0.7% range this week, compared to a range of around 1.2% last week.
  • Local drivers are likely to move back to the fore next week with the NBH rate decision set to be announced on Feb 25. Meanwhile, Prime Minister Orban will deliver a state-of-nation address over the weekend.