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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
- Hungary May CPI came in slightly lower than expected at 5.1% (vs. 5.3% exp.), reducing slightly the pressure on NBH policymakers to start a hiking cycle.
- Core CPI is up to 3.4% in May (from 3.2% the previous month), implying that core prices are still standing below the NBH 4-percent upper tolerance.
- In the past few months, we have seen that the spike in inflation has led to an in disagreements between NBH policymakers over the trajectory of rates in the coming months.
- USDHUF has been retracing higher in the past few days, testing its 287 resistance; a break above that level would open the door for a move up to 290 and 294.70 (50D SMA). On the downside, first support stands at 283, followed by 280.
- Hungary 10Y yield continues to retrace lower and is currently trading slightly above its 50D SMA at 2.82%; next level to watch on the downside stands at 2.72%, followed by 2.66% (100D SMA). On the topside, first resistance stands at 3%.
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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