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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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  • Yesterday, NBH decided to raise its 1W depo rate by 30bps to 6.15% following Tuesday’s decision to hike its ‘core’ policy rate by 100bps to 4.4%.
  • Even though hiking rates generally support the domestic currency, CEE FX have been mainly driven by the geopolitical risk, therefore hiking to aggressively may not have any impact on the forint.
  • EURHUF retraced higher following the decision, finding resistance at 375.60 before retracing slightly lower this morning. Key Support to watch on the pair remains at 370.
  • This morning, economic data showed that unemployment rate fell to 3.8% in February, down from 4.1% the previous month.
  • Hungarian Prime Viktor Orban attends the second day (today) of a European Union summit where leaders discuss the possibility of expanding economic sanctions against Russia over its continuing invasion of Ukraine (BBG).
MNI London Bureau | +44 203-865-3850 |
MNI London Bureau | +44 203-865-3850 |

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