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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
- This morning, economic data showed that PPI inflation decelerated to 14.4% YoY in August, down from 14.8% the previous month.
- Yesterday we saw that average gross wages surged to 7.9% YoY in July (vs. 8% exp.), up from 3.5% the previous month.
- The slow down in the pace of hikes by the NBH has been weighing on the HUF, which has experienced significant selling pressures in the past two weeks, decoupling from local peers (PLN and CZK).
- The table shows that HUF has been one of the worst EM FX performers in September, down nearly 5% against the US Dollar.
- RSI indicator is currently showing that HUF is moderately to significantly 'oversold' against major crosses following the recent selloff.
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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