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HUF Consolidates Higher This Week

  • This morning, economic data showed that average gross wages accelerated to 9.1% YoY in September (vs. 9.3% exp.), up from 8.9% the previous month.
  • Yesterday, we saw that unemployment rate fell to 3.9% in October, down from 4% the previous month.
  • USDHUF continues to retrace sharply lower today, gradually approaching its ST support at 320. Next level to watch below that stands at 316.30. On the topside, first resistance stands at 327.80, followed by 330.
  • Hungary 10Y yield has been retracing higher in recent days, currently trading slightly below the 4.50% level; next resistance to watch above that stands at 4.5840%. On the downside, first support stands at 4.27%, followed by 4.0970%.

Source: Bloomberg

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