CANADA JULY CPI +2.5% YOY, SLOWEST SINCE MARCH 2021

MNI China Daily Summary: Tuesday, Aug 20

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

MNI: US REDBOOK: AUG STORE SALES +4.8% V YR AGO MO

MNI: US AUG PHILADELPHIA FED NONMFG INDEX -25.1

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Forint Under Renewed Pressure Amid Comments from Fed's Williams

HUF
USDHUF has extended today’s gains to 1.45% at typing amid the comments from Fed’s Williams and accompanying boost in US yields and greenback (as noted above). The pair had already corrected off the overnight lows but has now found additional upside momentum as the moves in global markets pressure the wider EM basket. Nevertheless, USDHUF remains shy of pre-Fed levels.
  • EURHUF trades a more moderate 0.85% firmer, but has recorded an intraday high just ~20pips shy of this week’s earlier highs at 383.55. The cross has now fully reversed the post-Fed losses and looks set to end the week around 0.5% in the green. A break of the aforementioned high would be a bullish development, opening 384.23, the Nov 1 high.
  • Focus turns to the NBH decision next week, where the central bank are widely expected to deliver another 75bp rate cut. This follows comments from Deputy Governor Virag last month who said that the base rate could drop to below 10% by February, implying 75bp cuts in each of the December and January meetings at least.
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.