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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.
HUNGARY
EURHUF (-0.25%) continues to trade with a downward bias, as forint strength continues to track that of the broader single currency, and EURUSD probes noted resistance around the 1.0930 mark. 372.38, the Mar 1 low, remains the key support level to watch.
- Similar optimism can be seen in local equities, with the Budapest Stock Index up 1.83% and leading its regional peers. Domestic bond yields have fallen around 3bps across the curve, though remain well within recent ranges.
- Speaking in an interview to Inforadio, Minister Marton Nagy said he sees CPI at “around 25%” in March. Should both headline and, in particular, core inflation remain stubborn, the NBH may keep rates restrictive for longer, extending the lifeline of the HUF carry trade.
- Looking ahead, industrial production data is on the docket tomorrow morning (Est: -1.5% y/y, Prior: -3.2%) before retail sales figures take focus on Thursday (Est: -5.9% y/y, Prior: -4.5%).
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.
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