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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
- EURHUF has been retracing lower in the past two days after finding a local high at 405 on Monday; the pair is currently testing its ST support at 402.35 (50DMA).
- Next key level to watch on the downside stands at 400.
- The surge in risk aversion in the past month has been weighing on the forint, which continues to trade at historically low levels despite the aggressive tightening cycle run by the NBH.
- The chart shows that the broad HUF index (NEER) has been constantly diverging from its LT mean, currently trading 30% below its LT average.
- This morning, economic data showed that the industrial production came in higher than expected, rising by 6.6% YoY in July (vs. 2.9% exp.), up from 4.8% the previous month.
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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