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HUNGARY: EUR/HUF Rally Hits Pause, NBH Deputy Gov Set to Speak

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
  • HUF is modestly firmer early Thursday, helping cap the rally in EUR/HUF at yesterday's highs of 400.85 - the best print since March 2023 - as HUF trades more sensitively to geopolitical risk and a deteriorating sell-side view toward the HUF.
  • Foreign minister Szijjarto has talked down the EU's latest proposals to deploy military advisers into Ukraine for training coordination purposes - the latest example of Budapest splintering the Brussels approach to the Russia-Ukraine war.
  • Focus Thursday turns to the supervision conference in Budapest, at which NBH's Kandracs is set to make an appearance. This is followed by a cabinet briefing at 2.30pm local time (1330BST). No notable data releases due today until Friday's Industrial Production numbers.
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  • HUF is modestly firmer early Thursday, helping cap the rally in EUR/HUF at yesterday's highs of 400.85 - the best print since March 2023 - as HUF trades more sensitively to geopolitical risk and a deteriorating sell-side view toward the HUF.
  • Foreign minister Szijjarto has talked down the EU's latest proposals to deploy military advisers into Ukraine for training coordination purposes - the latest example of Budapest splintering the Brussels approach to the Russia-Ukraine war.
  • Focus Thursday turns to the supervision conference in Budapest, at which NBH's Kandracs is set to make an appearance. This is followed by a cabinet briefing at 2.30pm local time (1330BST). No notable data releases due today until Friday's Industrial Production numbers.