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AUDUSD TECHS

Southbound

EURJPY TECHS

Bearish Cycle Still In Play

HUF Choppy as PLN Faces PPI Pressures

CEE FX
  • EUR/HUF underperforming PLN this morning with limited local headlines observed
  • Spot closed above the 200dma at 354.75 to form a spinning top candle yesterday -signs of indecision.
  • Move through topside resistance at 356.33 opens up a more consolidated move higher towards 357.05.
  • EUR/PLN showing sensitivity to CD Projekt headlines after Sony pulled the game from its store.
  • Remains within its tight weekly range - move through 4.4440, clears the way to a move back towards 4.4489.
  • Upside surprise in Poland PPI may reinforce concerns of less transitory price pressures
  • eroding real yields and monetary space to expand NBP policy measures - weighing on PLN.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com