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HUNGARY: Hungary Remains on High Alert for Flooding

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
  • EURHUF pulled back from its recent highs at the start of the week, and trades close to flat at typing. The 50-day EMA, at 394.00, was pierced and a clear break would expose key near-term support at 391.93, the Aug 21 low. On the upside, a reversal higher would refocus attention on key resistance at 399.21, the Aug 5 high.
  • Hungary continues to be on alert for flooding after extreme weather wreaked havoc across Central Europe. US ambassador David Pressman will speak at the Budapest Forum at 12:15BST/13:15CET.
  • There are no data releases scheduled for the entirety of this week, with focus turning to the FOMC rate decision this evening. The start of an easing cycle in the US will likely provide room for the NBH to resume rate cuts next week.
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  • EURHUF pulled back from its recent highs at the start of the week, and trades close to flat at typing. The 50-day EMA, at 394.00, was pierced and a clear break would expose key near-term support at 391.93, the Aug 21 low. On the upside, a reversal higher would refocus attention on key resistance at 399.21, the Aug 5 high.
  • Hungary continues to be on alert for flooding after extreme weather wreaked havoc across Central Europe. US ambassador David Pressman will speak at the Budapest Forum at 12:15BST/13:15CET.
  • There are no data releases scheduled for the entirety of this week, with focus turning to the FOMC rate decision this evening. The start of an easing cycle in the US will likely provide room for the NBH to resume rate cuts next week.