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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
- The recent HUF weakness has been weighing on Hungarian equities this month, with BUX index breaking below its 100DMA at 51,463.
- The forint is one of the weakest FX performers among the EM world (after TRY), down 4.1% against the USD and 1.9% against the Euro.
- With growth expectations fading in the Euro area and uncertainty rising in eastern Europe, CEE currencies have been experiencing elevated selling pressure in recent weeks.
- Next support to watch on the downside stands at 50,503, which corresponds to the 23.6% Fibo retracement of the 31.,952 – 56,233 range.
- Key support stands at 48,228 (20DMA).
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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