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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.
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Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
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HUF Strength Keeps Supporting Equities
- Yesterday, economic data showed that Hungarian PPI rose 14.8% YoY in August, up from 11.6% the previous month, the fastest pace since January 1998.
- This morning, July retail sales came in lower than expected at 3.0% YoY (vs. 3.5% exp.), down from 5.8% the previous month.
- Momentum on HUF remains firm again major crosses amid hawkish NBH; traders keep chasing the monetary policy divergence.
- Hence, HUF strength has been supporting Hungarian equities, with BUX index currently trading close its all-time high slightly below the 52,000 level.
- EURHUF has been trading within a tight 3-figure range in the past week, oscillating between 347 and 350; resistance to watch above 350 stands at 354 (50D and 100DMA). On the downside, first support to watch below 347 stands at 345.
- Hungary 10Y yield has been consolidating slightly lower in the past two days after reaching a local high at 3.03% on Wednesday; key resistance on the topside remains at 3.22%. On the downside, first support stands at 2.92%, followed by 2.84% (50D and 100DMA).
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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.