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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
- Hungary’s preliminary reading of Q4-2024 GDP came in well-below expectations, unchanged both year-on-year and quarter-on-quarter (Est: +0.6% y/y, +0.3% q/q). Due to this being the first reading of the data, a full breakdown of growth components is not provided, though the statistics office said the performance of the economy rose mainly in the farm, healthcare, social services and ICT sectors. This was countered by declines in the industrial and construction sectors and part of market services, it added.
- The forint weakened following the data, with EURHUF back within close proximity to Tuesday’s post-CPI highs and 0.17% firmer on the day. Clearance of 390.49, the Jan 30 high, could expose 394.67, the Aug 3 2023 high. On the downside, a break of the 50-day EMA is required to reinstate a bearish theme instead. That average provided strong support recently as the cross has recovered from the early February lows.
- The central bank’s January meeting minutes will take focus as monetary policy council members were divided about the size of the 75bp rate cut delivered last month, indicating dissenting votes for the first time since 2016. The minutes will be released at 13:00GMT/14:00CET.
Source: Hungarian Statistics Office
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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