MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HUF, PLN, CZK Outstrip EUR Gains

CEE FX
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • Another session of lower lows for EUR/HUF Monday, which extends the losing streak of lower lows to 15 of the past 16 sessions. This narrows the gap with the 200-dma, undercutting as next support at 386.20.
  • CEEMEA FX outperforming more broadly, with PLN, ZAR, CZK and others all similarly firm as the strength across core equity markets (e-mini S&P higher by 0.2%, Eurostoxx50 within range of cycle highs). Nonetheless, there remain a number of idiosyncratic drivers in key territories helping add a leg to recent strength:
  • Central banks still a key driver, with Wnorowski of the NBP this morning pointing to fading expectations of a rate cut this year and inflation expectations swinging higher, Czech CPI coming in firmer than expected (+0.7% vs. Exp. +0.2%) and an expected bottoming-out in Hungarian inflation across the summer.
133 words

To read the full story

Close

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.
  • Another session of lower lows for EUR/HUF Monday, which extends the losing streak of lower lows to 15 of the past 16 sessions. This narrows the gap with the 200-dma, undercutting as next support at 386.20.
  • CEEMEA FX outperforming more broadly, with PLN, ZAR, CZK and others all similarly firm as the strength across core equity markets (e-mini S&P higher by 0.2%, Eurostoxx50 within range of cycle highs). Nonetheless, there remain a number of idiosyncratic drivers in key territories helping add a leg to recent strength:
  • Central banks still a key driver, with Wnorowski of the NBP this morning pointing to fading expectations of a rate cut this year and inflation expectations swinging higher, Czech CPI coming in firmer than expected (+0.7% vs. Exp. +0.2%) and an expected bottoming-out in Hungarian inflation across the summer.