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HUF: EURHUF Breaches Initial Resistance at 50-Day EMA

HUF
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  • The sustained recovery in EURHUF has resulted in a breach of initial resistance at 389.09, the 50-day EMA. The cross is trading 0.25% in the green amid sustained pressure on the EM FX basket, with the fall in major equity indices continuing to contribute to the broader risk-off tone across global markets.
  • Hungarian political leaders will clash in a televised debate at 19:00BST/20:00CET ahead of the EU and municipal elections next week.
  • There are no data releases scheduled until tomorrow morning, when PPI and trade balance figures will cross. Meanwhile, Moody’s may update Hungary’s sovereign credit rating after hours on Friday (Current rating: Baa2; Outlook: stable).
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  • The sustained recovery in EURHUF has resulted in a breach of initial resistance at 389.09, the 50-day EMA. The cross is trading 0.25% in the green amid sustained pressure on the EM FX basket, with the fall in major equity indices continuing to contribute to the broader risk-off tone across global markets.
  • Hungarian political leaders will clash in a televised debate at 19:00BST/20:00CET ahead of the EU and municipal elections next week.
  • There are no data releases scheduled until tomorrow morning, when PPI and trade balance figures will cross. Meanwhile, Moody’s may update Hungary’s sovereign credit rating after hours on Friday (Current rating: Baa2; Outlook: stable).