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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
- Yesterday, the NBH decided to leave its 1W depo rate (effective rate) unchanged at 6.15% despite recent HUF weakness.
- We have seen that the selling pressure on HUF has been rising this week following Orban’s victory over the weekend as market has been pricing in renewed political tensions with the EU in the near to medium term.
- EURHUF found a local high at 382.10 yesterday before starting to consolidate lower and currently testing the 378 level. Next ST support to watch on the downside stands at 375.70.
- This morning, economic data showed that inflation accelerated to 8.8% in March (from 8.3% the previous month), but came in below expectations (8.8%).
- A potential launch of the European Union’s rule-of-law mechanism shouldn’t affect the approval of Hungary’s recovery and resilience plan, the Finance Ministry says in a statement (BBG).
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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