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HUNGARY: Local Catalysts Scarce as EURHUF Starts the Week Softer

HUNGARY
  • Local news flow was light over the weekend, with no notable domestic developments this morning either.
  • EURHUF has started the session moderately lower, though the broader pullback from the early August highs is still considered corrective from a technical standpoint. A clear break of the 50-day EMA at 393.74 could signal scope for a sustained move lower towards 388.82, the Jul 22 low. For bulls, attention remains on a key resistance at 398.85, the Jun 14 high.
  • Unemployment rate figures for July provide the highlight of the week on Friday and is the only local release of note this week. Looking ahead, the NBH rate decision then takes focus on Aug 27, with early sell-side views looking for a ‘hold’ decision following the above-consensus inflation print in July.
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CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

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