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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
- HUFJPY is currently testing its 200DMA support level (36.53) following the strong consolidation in the past two days.
- Traders have been taking profit on the forint as technical indicators were recently showing that HUF was moderately to significant ‘overbought’ following strong gains in January.
- The NBH decided to mark a pause in its tightening cycle, leaving its 1W deposit rate steady at 4% in the past two weeks after raising it by 220bps in the last two months of 2021.
- Next support to watch on the downside stands at 36.08, which corresponds to the 38.2% Fibo retracement of the 37.78 – 38.73 range.
- (scale*100)
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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