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HUF: EURHUF Spikes to Fresh High on the Week

HUF
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

Topside momentum for EURHUF (+0.15%) has accelerated through yesterday’s highs, as the forint continues to struggle despite the more positive risk sentiment across global markets (evidenced by additional China stimulus measures, growing prospects of an Israel-Lebanon cease-fire and a rally in major equity indices).

  • The cross stands around 0.8% higher compared to the week’s earlier lows, with initial resistance marked at 397.66, the Sep 10 high. A break here would set sights on key resistance at 399.21, the Aug 5 high.
  • The NBH released the full inflation report this morning, though the headline inflation projections had already been revealed in Tuesday’s policy statement.
  • Local data releases are thin for the remainder of the week, with focus shifting to the slate of Fed and ECB speakers due later today.
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Topside momentum for EURHUF (+0.15%) has accelerated through yesterday’s highs, as the forint continues to struggle despite the more positive risk sentiment across global markets (evidenced by additional China stimulus measures, growing prospects of an Israel-Lebanon cease-fire and a rally in major equity indices).

  • The cross stands around 0.8% higher compared to the week’s earlier lows, with initial resistance marked at 397.66, the Sep 10 high. A break here would set sights on key resistance at 399.21, the Aug 5 high.
  • The NBH released the full inflation report this morning, though the headline inflation projections had already been revealed in Tuesday’s policy statement.
  • Local data releases are thin for the remainder of the week, with focus shifting to the slate of Fed and ECB speakers due later today.