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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
- The rise in uncertainty in recent weeks combined with the legal disputes between Hungary and EU have been weighing on the HUF, which has been the worst performing currency in July among the CEEMEA market.
- This week has been quiet for Hungary, with participants preparing for NBH meeting on July 27.
- As inflation continued to surprise positively in June (+5.3% YoY vs. 4.9% exp.), odds for another 30bps hike have increased significantly.
- USDHUF ticks lower this morning after finding a high at 306.50 yesterday; next level to watch on the topside stands at 310. On the downside, first support stands at 302.50, followed by 300.
- Hungary 10Y yield continues to trend higher this morning after finding a local low of 2.67% on Tuesday; first resistance stands at 2.79% (100DMA), followed by 2.84%. On the downside, next support to watch below 2.67% stands 2.60%.
Source: Bloomberg/MNI
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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